Houses and apartments are a popular means of money laundering because they can be paid for in cash in Germany.
(Photo: IMAGO/Silas Stein)
Berlin The federal government wants to ban cash transactions when buying real estate. This should be regulated within the framework of the Sanctions Enforcement Act II, it said on Friday in a paper that the responsible ministries of finance and economy distributed.
This should prevent anonymous transactions in the future. This should also make it easier to enforce sanctions against Russian oligarchs. The traffic light coalition of SPD, Greens and FDP had planned the measure anyway.
“Notaries should monitor the ban on cash payments and report violations,” the letter says. According to government circles, the change in the law should take place by the end of the year.
More: The number of suspected money laundering reports has doubled in 2021
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