Digital currencies such as Bitcoin or Ethereum continue to play an important role in the work of anti-money laundering practices. Last year, the Central Office for Financial Transaction -Exams (Financial Intelligence Unit -FIU) received about 8,700 suspicions with regard to crypto values.
The Authority in Cologne said that the share in the total volume has increased by 3.3 percent of all suspected reports on a new maximum value.
“Digital transactions are no longer a marginal phenomenon, but often the starting point of complex research pensions,” said FIU director Daniel Thelesklaf. As an example, the authority was referred to a case in which investor funds were moved across borders through digital payment routes, traditional banking details and fictitious identities.
Anti-money laundry practice: networking is important
“The analysis led to indications of a fraudulent network that was particularly difficult to penetrate through technical veil methods.” The most important participant alone could have received 44 bank accounts and 8 bills for crypto bonds. In this context, the authority emphasized the importance of international networks with other authorities.
The FIU is an authority in Cologne in which data scientists, lawyers and researchers investigate suspicious cash flows. The customs authority is intended to prevent criminal money from being washed or funded terrorists. She analyzes suspicion reports according to the money laundering practices. The FIU currently has 528 employees. In 2026 the number of positions to rise to 719 is.
In the past year, nearly 266,000 suspicions were received by the FIU. The authority evaluated it and wrote nearly 88,000 analysis reports to research and security authorities- eight percent more than 2023.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
