CAPTION: Germany wants to bring European money-laundering body to Frankfurt. (picture alliance/dpa)
The German government wants the planned European money-laundering authority to be based in Frankfurt, a senior Finance Ministry official confirmed.
Florian Toncar, parliamentary state secretary for finance, said a corresponding application had been submitted in Brussels.
Frankfurt "is a cosmopolitan financial centre of international standing in the heart of Europe," Toncar told dpa.
The money-laundering authority would benefit from modern infrastructure and the financial expertise that comes with proximity to the European Central Bank (ECB), the financial supervisory authority and other financial service providers, Toncar said.
The European Commission presented a plan to combat money laundering in 2021. In addition to an EU-wide limit on cash payments and restrictions on cryptocurrencies, this also included a new supervisory authority.
Its remit will be to take over the supervision of certain financial companies if there is an increased risk of money laundering or terrorist financing.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
