Hardly any criminal offense has been amended and sharpened since its introduction as often as money laundering pursuant to Sec 261 StGB. This is accompanied by considerable obligations under the Money Laundering Act (GwG) that are penalized with a fine. The requirements for banks and financial service providers as well as numerous other industries are significant. In this “jungle” of statutory provisions – the violation of which may, in addition, entail considerable sanctions even in case of a negligent or inconsiderate modus operandi – overview and (practical) experience are required. In particular, the dealings with the Federal Financial Supervisory Authority (BaFin) who is in charge of fine proceedings cannot be learned “on the fly”.
Since years, we have advised numerous banks and trained hundreds of persons in charge of money laundering and executive bodies, in particular from savings banks and Raiffeisen banks, in dealing with the statutory requirements in various open and internal events. We represented our clients’ interests in numerous criminal proceedings as well as in various BaFin proceedings.