ARCHIVE – A woman holds a wallet with banknotes in it. Photo: Monika Skolimowska/dpa-Zentralbild/dpa
In this way, large transactions would be carried out in a traceable manner and the risk of the origin of large assets being concealed would be reduced, according to a strategy paper.
Faeser wants to officially present this in the afternoon at the autumn conference of the Federal Criminal Police Office in Wiesbaden. It is available from the German Press Agency. Faeser had previously called for the cash upper limit and thus provoked mixed reactions.
Digital Financial Investigations
Illegally obtained assets should no longer enter the legal economic cycle, be no longer usable for their owners or at least remain recognizable and traceable, the concept goes on to say. Cooperation with the various players in the financial world must be further expanded and a competence center for digital financial investigations established.
Cash caps to combat money laundering also exist in some other European countries. In Germany, a comparatively large amount is still paid in cash. Critics, above all from the liberal-conservative situation, see the cash upper limit as a first step towards abolishing cash. The government rejects that. (pbe/SDA)