According to Russia today, the German Ministry of Finance has declared that the Cabinet has approved a draught bill that would strive to combat money laundering and enable the use of sanctions to be more effective in the future as it takes effect swiftly.
In a statement, the ministry said: “The federal government restructuring the application of sanctions, as it will be implemented in the future more effectively. The proposed law was drafted jointly by the Federal Ministry of Economy and Climate Protection and the Ministry of Finance.
” She pointed out that the first edition of this law on the application of the penalties has entered into force since the end of May 2022, as it allowed the adoption of short -term measures: where penal powers were created to track and freeze assets.
According to the Ministry, with the passage of the new law regarding the imposition of fines, “It is imperative to start making structural changes to how penalties are really applied and how money laundering is stopped.
Germany passed a measure to strengthen punishments.
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