Almost twelvefold since 2009: Suspected money laundering cases are increasing sharply

The state is increasingly taking action against money laundering. A report by a special unit shows: The number of suspected cases in Germany has increased sharply since 2009. Many cases are reported in one sector in particular. The lawbreakers no longer just use cash.

Criminals often try to hide the source of their income so that the state does not become suspicious – money laundering is a popular method. Recently, significantly more suspected cases of this machinations have been reported to the German authorities. In 2019 there were a total of 114,914 reports of money laundering, said the responsible Financial Intelligence Unit (FIU). This was almost 49 percent more than the year before. Since 2009 the number has even increased almost twelve-fold.

The FIU is located at customs. It analyzes the reported cases and forwards them to the responsible law enforcement authorities or tax and administrative authorities if there are indications of a criminal offense.

FIU head Christof Schulte attributed the overall significantly higher numbers to the measures taken by his authority in the fight against money laundering. "The attention of those obliged to identify suspicious facts in connection with possible money laundering and terrorist financing is growing noticeably." 98 percent of all suspicious transaction reports come from the financial sector.

But there are also more tips from the gambling industry and real estate agents. "In addition, the increasing number of reports in connection with crypto currencies clearly shows that, in view of this development, we will also increasingly investigate transactions that have been carried out using new payment technologies with regard to money laundering and terrorist financing," said Schulte.