Report: German lawyers, accountants and others to help fight terrorism under draft law

15th October 2007, Comments 0 comments

15 October 2007, FRANKFURT (AFP) - Germany might require lawyers, accountants and other professionals to report financial transactions that could be used to finance terrorist activities and money-laundering, a press report said Monday.

15 October 2007

FRANKFURT (AFP) - Germany might require lawyers, accountants and other professionals to report financial transactions that could be used to finance terrorist activities and money-laundering, a press report said Monday.

The government may amend six existing laws to extend an obligation to report suspicious transactions to the Federal Criminal Police Office, the Frankfurter Allgemeine Zeitung reported, citing a draft by the Interior Ministry.

Currently only banks and insurers fall under this law.

Under the proposed amendments, lawyers, public notaries, auditors and tax accountants, real estate agents and gaming houses will all be responsible for tracking clients' transactions and ensure they know who is the beneficial owner of the funds, the report said.

The Criminal Police Office would supply these professionals with information to help recognise transactions that might be used to finance terrorism, it added.

AFP

Subject: German news

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