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EXCLUSIVE: Germany’s new €700M AML super-agency (FBFI) to have 1,700 staff, located in Dresden and Cologne; will be operating in 2024

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AMLA: German finance minister Christian Lindner will be in Brussels next week to pitch Frankfurt's case to host the EU's new AML Authority.

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NEWS: US firms again have to submit beneficial ownership information, FinCEN extends filing deadline 

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NEWS: Broker Aarna Capital fined $500K by Abu Dhabi FS authority for violating AML laws

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NEWS: Bank of America hit with cease and desist order over ‘unsafe or unsound’ AML measures

By ALISHA HOULIHAN for AMLi

GERMANY’s new €700M AML super-agency, the Federal Bureau of Financial Intelligence (FBFI) will be staffed by 1,700 officials and be based across two cities, according to a new draft law.

The new office, which will be up and running next year, will centralize monitoring and analysis of money laundering and sanctions enforcement.

The almost 2,000 employees, will be located in offices in Dresden and Cologne, a finance ministry spokesperson said.

Germany’s finance ministry, which is spearheading the formation of the agency is budgeting more than €700M ($775.60 million) towards its implementation between 2024 and 2027, according to

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NEWS: US firms again have to submit beneficial ownership information, FinCEN extends filing deadline 

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NEWS: Broker Aarna Capital fined $500K by Abu Dhabi FS authority for violating AML laws

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NEWS: Bank of America hit with cease and desist order over ‘unsafe or unsound’ AML measures

Regulatory Watch News

  • Food City Agrees to Pay over $8M to Settle False Claims Act Allegations Related to Opioid Dispensing

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