Money Laundering in Germany

in Business Risk

The trade union representing Germany’s police investigators estimates that between $65 to $78 Billion (50 to 60 Billion Euros) in money laundering activities takes place in Germany each year.

The Organization for Economic Cooperation and Development (OECD) stated that other countries investigate money laundering and detect financial crimes at a rate of four to twenty times more than Germany.

One method that money is laundered in Germany is through illegal gambling. From slot machines that pay out less money and illegal online gambling, up to $155 Million (120 Million Euros) is laundered each year.

(Additional crime in Germany statistics.)

Source:  Wolfgang Dick, “Germany, a safe haven for money laundering,” Deutsche Welle, October 30, 2012.

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