Payment Firms' Agents Targeted In Germany's Money Laundering Reforms

The German Ministry of Finance has said that the requirements for agents of foreign payment companies may need to be tightened, as it called for improvements in the sector’s filing of suspicious activity reports (SARs).

Although the ministry applauded recent efforts to bring agents of foreign payment firms under the same anti-money laundering (AML) regime as other players in the payments sector, it also said that the process could be sharpened.

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