Legislation up for debate in Germany would prompt banks to review and possibly reconsider their correspondent ties with financial institutions in several EU nations, including Malta, Latvia and Cyprus, sources told ACAMS moneylaundering.com.
The four largest lenders in the Netherlands have joined a new partnership aimed at clamping down on organized crime syndicates by following their money.
Submissions of suspicious transaction reports, or STRs, to the German government rose nearly 30 percent from 2017 to 2018, but real estate brokers, notaries, and other nonbank firms and professions remained poor contributors of financial intelligence.
print