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German Finance Ministry Raided in Money Laundering Probe

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

BERLIN—German prosecutors raided the finance and justice ministries on Thursday as part of an investigation into possible obstruction of justice by the government’s anti-money laundering agency. The probe into the Financial Intelligence Unit, an agency of the finance ministry under SPD chancellor candidate Olaf Scholz, is looking at whether the division failed to act on warnings from banks of possible money laundering. The raids come at a pivotal moment for Scholz, who opinion polls suggest has a good chance of becoming German chancellor in national elections on Sept 26. The FIU along with the Germany’s financial regulator, Bafin, both units of the finance ministry, have previously been criticised for failing to detect problems at payments company Wirecard, which collapsed in the country’s biggest post-war fraud scandal. A spokesman for the public prosecutors said they launched the inquiry after receiving complaints that the FIU had not acted on millions of euros …

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