rents are rising in Berlin and rise. This has to do not only with the attractiveness of the capital. The metropolis is also a rotary Writing for money laundering. Criminals create prefers black money in real estate in Berlin, to wash away their money. And the black money fueled not only rents – often it is also a vehicle for terrorist financing
The federal government wants to combat money laundering and terrorist financing in Germany is now stronger. – and resorts to a drastic measure: She wants to significantly restrict cash transactions in the future.
“We can imagine an upper limit on the order of 5000 euros,” said Financial Secretary Michael Meister (CDU). All transactions above this threshold would in future be done by bank transfer.
cash-ceiling necessary even single-handedly
Already at the next meeting of the European finance and economy ministers this month to the topic on the agenda. “Our position is that we are very happy to have an internationally coordinated proposal,” said Meister. Not drawn with Europe, the federal government wants to introduce the new cash-limit on a national level.
Completely abolish does not want the federal government cash, however. The introduction of the ceiling should not be mixed with the general debate on the future of cash, said Meister. “The Federal Ministry of Finance is of the opinion that there should be cash in the future.”
A cash-elimination had brought about John Cryan into play. “Cash is terribly expensive and inefficient and only helps money launderers and other criminals”, the German bank chief had said.
serious consequences for some industries
However, the upper limit for some sectors as for ordinary citizens have serious consequences. This is especially industries where cash plays an important role, such as used car dealers or horse breeder. Especially in Germany, the pay is not very common with credit cards in comparison to other countries. Many citizens are charged with larger, but completely legal transactions aware in cash, so that their transactions can not be traced and their financial transactions can remain anonymous.
A ceiling it should have terrorists in the future much more difficult to get money for planned attacks as in Paris. As one of the main sources of income of Islamist terrorist groups shall be the illicit trade in works of art and wildlife and plants.
A presented on Wednesday study of Halle economics professor Kai Bussmann commissioned by the Federal Ministry of Finance concludes that Germany in particular due to its attractiveness as a business location black money “like a magnet attracts “.
When it comes to money laundering, illegal income earned – approximately from drug stores or trafficking in human beings – to bring to the normal economic cycle. The money laundering volume in Germany amounts annually according to the study to approximately 100 billion euros. In the sectors outside the financial sector, the number of suspected cases from 15,000 to 28,000 annually deck. Therefore, the Federal Republic, an “increased risk of money laundering,” it says in the study.
These sectors are particularly vulnerable to dirty money
In particular, the construction and real estate industry, the Boat and Yachthandel, business with art and antiques and the hotel and catering industry are affected by money laundering. A special problem are trust and escrow accounts held by lawyers and notaries on behalf of anonymous lasting customer. “A gateway for money laundering is clearly paying with large amounts of cash,” says Bussmann. He therefore recommends an upper limit from 2,000 to 5000 euro.
Months ago, the North Rhine-Westphalian Minister of Finance Norbert Walter-Borjans (SPD) had brought a cash limit of 2,000 or 3,000 euros this week to black money transactions and to prevent tax evasion. He referred to similar limits in other states of Europe.
had the EU Commission only on Tuesday in response to the assassination of Paris its own action plan to combat money laundering and terrorist financing presents. They want, among other things, the use of anonymous and rechargeable cards regulate more strictly.
In addition to European financial institutions will be forced to take all the money flows from countries under the microscope, have the shortcomings in the fight against money laundering and terrorist financing. For a list of so-called high-risk countries is due by mid 2016th However,
A cash-limit not found in the proposals of the EU Commission. The federal government hopes to curb more effectively by such a cash-limit terrorist financing. By a limit will at questionable transactions “paper trail down”, which could be traced back, said Bussmann.
opposition criticized the cash-limit
criticism of the plans of the federal government, there is from the opposition. “A cash-limit is an absolute sham solution. They will not help in the least, abzugraben terrorists the means for their livelihood or for arms deals,” says the green financial expert Gerhard Schick. You’ll the IS can not stop the fact that they could continue to be paid in cash at the jeweler only until 5000 Euro. introduce
Instead of a cap, the federal government needs to make stronger block the funds and accounts of criminals. That had been done far too little and far too slow in the past. “In Germany, money laundering mainly due to administrative weaknesses flourish,” says Schick.
fight only through better coordination at the national and European level, and could better equipment of prosecution services and administration are money laundering and terrorist financing effectively. This also calls for government adviser Bussmann. In addition, companies should appoint anti-money laundering officer and business associations are active in the subject.
The FDP considers the cash-ceiling mainly an attack on civil liberties of citizens. “Union and SPD is not about the fight against terrorist financing, but to take control of the savings,” said financial expert Volker Wissing. “Cash is lived freedom that we should not abandon.”
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