German Cabinet takes tougher stance on financial crime

The German government intends to take tougher action against financial crime, money laundering and international drug trafficking.

Meeting in Berlin on Wednesday, Germany’s Cabinet approved a draft bill granting several new powers to the customs authorities.

These include the seizure of blockets when there is a suspicion they were not lawfully acquired.

“If suspects cannot prove that they acquired blockets legally, the Porsche or the Rolex will be taken away,” said Finance Minister Lars Klingbeil. Until now, this has often only been possible after lengthy court proceedings.

In addition, customs authorities will in future be able to use artificial intelligence for data blockysis, deploy drones, and block the perpetrators’ communications.

“Customs is becoming more modern, more digital and more effective,” said Klingbeil. “This sends a clear signal to criminals: we are stepping up the pressure!”