Money laundering criminal law
Money laundering Regulatory offenses
Money laundering compliance
Money laundering criminal law & AMLA compliance
schirach.law in Munich has money laundering as its core competence. We offer preventive advice on money laundering risks and effectively defend our clients in fine proceedings under the German Money Laundering Act (GwG) and in cases of money laundering allegations under Section 261 of the German Criminal Code (StGB).
We provide particularly rapid assistance when banks block an account. Banks are obliged to submit a suspicious money laundering report to the Financial Intelligence Unit (FIU) in the event of suspicious transactions. Banks often report suspicious cases in the case of high or regular cash deposits, if deposits do not match the usual deposit behavior or in the case of foreign transactions. This applies in particular if a bank account has only recently been opened.
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Account blocking
Banks are not allowed to inform their customers about intended or reported suspicions of money laundering in order to prevent the risk of concealment. Customers usually only notice that banks do not carry out a transaction or do so late. Banks are obliged to stop suspicious transactions.
A transaction may only be carried out once the Central Financial Transaction Investigation Unit (FIU) or the public prosecutor's office has given its approval. If there is no official prohibition, the transaction may only be carried out by the banks once the third working day (excluding Saturday) after the date of the suspected money laundering report has elapsed.
As a result, banks often block the account as a precautionary measure until the investigating authorities have completed their investigation.
Accordingly, the public prosecutor's office clarifies within three days whether it will release a transaction or apply for a judicial attachment of assets. The public prosecutor's office seizes the account if an attachment order has been issued. The person concerned can lodge an appeal against this order, but it often takes a long time for the bank to release the account again. Until then, the banks freeze the funds. Banks can also terminate the business relationship, often without cause, which can have negative consequences for private individuals and companies.
It is therefore important to act quickly if irregularities occur at the bank. One indication may be that a transaction is not being executed or is only being executed with a delay. Even if a bank gives vague reasons for the delay, you should be alert.
The staff at schirach.law know the procedures of the authorities inside out and act quickly. If clients can quickly prove that their funds originate from legal sources, we often clear up suspicions quickly and lift account freezes.
Extensive experience in the field of money laundering
Lawyer Marco Benedikt von Schirach was from 2018 to 2025 member of the board of the Munich Bar Association and chaired Department XV - Money Laundering Money Laundering Prevention held. In accordance with Sections 50 No. 3, 51 GwG, the Munich Bar Association monitors compliance with money laundering regulations by more than 24,000 lawyers in its district. The Munich Bar Association is also responsible for fine proceedings. Thanks to his work at the Munich Bar Association, Marco Benedikt von Schirach is also familiar with the topic of money laundering from the perspective of a prosecuting authority.
Due to his many years of expertise, Marco Benedikt von Schirach is regularly invited to speak on current money laundering and money laundering prevention topics at training events. In addition, from the 4th edition onwards, he will be commenting on the newly published chapter on money laundering in the standard commentary on professional law Gaier/Wolf/Göcken, "Anwaltliches Berufsrecht".
This extensive expertise directly influences the work of schirach.law, be it in the prevention of money laundering or in the defense in misdemeanor and criminal proceedings.
What is money laundering?
In money laundering, perpetrators attempt to present illegally acquired money as legal income. The perpetrators "clean" the money for the authorities, so to speak. To constitute money laundering, a so-called predicate offense must have been committed from which the assets originate. Legislators have recently tightened up the section on money laundering (Section 261 of the German Criminal Code). The so-called "all-crimes approach" allows all criminal offenses under criminal and ancillary criminal law to serve as predicate offenses, such as fraud, embezzlement or tax evasion.
Attempts to introduce illegal funds into the economic cycle are not only punishable under the German Criminal Code. The Money Laundering Act (GwG) obliges certain professional groups to comply with extensive reporting, due diligence and documentation obligations in order to better identify perpetrators.
Reorganization of the fight against money laundering and financial crime
In the 2021 coalition agreement, the coalition government decided to improve the structures for combating money laundering. International and national authorities systematically pursue money laundering, which is partly due to the work of the Financial Action Task Force(FATF). The FATF reviewed Germany in 2022, and the final report showed weaknesses in the system. The Minister of Finance therefore announced a reorganization of the fight against money laundering and financial crime.
Financial Crime Control Act (FKBG)
In October 2023, the government presented the draft of a law to improve the fight against financial crime (FKBG), which creates the basis for the reorganization of the fight against money laundering. The government planned to establish the Federal Bureau of Anti-Financial Crime (BBF). The BBF was also to include the newly established Central Office for Money Laundering Supervision (ZfG).
The aim was to strengthen a uniform, stringent risk-based approach to money laundering supervision of the non-financial sector. In addition, the government intended to improve the nationwide coordination and support of supervisory measures under money laundering law. Among other things, the ZfG was to draw up guidelines for a uniform approach to supervisory activities and define criteria for assessing effectiveness. The supervisory authorities should report on this in future.
However, the Financial Crime Prevention Act will no longer be passed in the current legislative period. The reason for this is the break-up of the traffic light coalition. It is therefore also clear that the planned higher federal authority to combat financial crime will not come into being (for the time being). What the new government will do with the previous plans after the federal elections is still completely open. The only thing that is currently clear is that the EU money laundering package must be implemented in Germany by 01.07.2027 at the latest. Germany must also make preparations for the upcoming audit by the Financial Action Task Force in 2027/2028.
EU money laundering package
On 31.05.2024, the EU issued the Money Laundering Regulation (EU 1624/2024), which regulates the AMLA obligations of obliged entities in the member states. This regulation comes into force directly on 01.07.2027 and does not require national implementation. This new instrument is part of a comprehensive money laundering package that aims to strengthen the Union's framework for combating money laundering and terrorist financing.
This Regulation, Directive (EU) 2024/1640 of the European Parliament and of the Council and Regulations (EU) 2023/1113 and (EU) 2024/1620 of the European Parliament and of the Council will provide the legal framework for the requirements to be met by obliged entities to combat money laundering and terrorist financing and the Union's institutional framework to combat money laundering and terrorist financing. This also includes the establishment of a European supervisory authorityfor combating money laundering and terrorist financing (Authority for Anti-Money Laundering and Countering the Financing of Terrorism, or "AMLA"). The AMLA will commence its activities on the basis of the EU AMLA Regulation on July 1, 2025 and will be based in Frankfurt.
It is clear that the pressure in the national and international arena continues to increase. schirach.law helps you to navigate this dynamic environment with legal certainty.
