Struggling anti-money laundering unit sends panic through Germany

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August 9 2018

Germany’s anti-money laundering unit has been accused of serial failure to safeguard against suspect transactions, including missed alerts and long delays in triggering police inquiries into money transfers thought to be linked to alleged terrorist activities.

The Financial Intelligence Unit was described as endangering German lives due to its vast backlog of reports that sometimes took as long as six months to be shared. Whistle-blowers included Sebastian Fiedler, a senior German detective, who described it as the “biggest security disaster in post-war history”.