Setback in Germany’s Fight Against Money Laundering Following Coalition Collapse
The ambitious plan to establish a new Federal Office for Financial Crime (BBF) in Germany has hit a significant roadblock following the collapse of the coalition government. Key legislative frameworks needed to build the BBF remain unfinished, undermining earlier promises from Finance Minister Christian Lindner. As Germany struggles with a poor reputation in handling money laundering, recent developments suggest the BBF may not launch as initially intended, casting doubt on the country’s commitment to combat financial crime effectively.