Subpoena Regarding Suspicion Of Money Laundering? We Provide Immediate Assistance In Investigative Proceedings ' Nationwide In Germany

• Published date: 02 April 2024
• Subject Matter: Finance and Banking, Government, Public Sector, Financial Services, Money Laundering
• Law Firm: Michael Kyprianou Law Firm
• Author: Benjamin Hasan

Definition of Money Laundering

Money laundering is a crime that can entail significant penalties. In addition to the Money Laundering Act, which is directed at obligated parties, the offence of money laundering in the Criminal Code applies to everyone. While the Criminal Code penalizes money laundering, the Money Laundering Act aims to prevent crimes through preventive measures. Section 261 of the Criminal Code does not contain a definition of the term money laundering, which is why understanding the notification of a criminal investigation is particularly difficult for those affected. Common approaches to explaining and attempting to define what constitutes money laundering typically use the so-called...