More fines for money laundering in Schleswig-Holstein - Schleswig-Holstein cracks down on money laundering with record fines in 2024
Schleswig-Holstein has witnessed a surge in money laundering penalties and inspections over the past year. The total fines escalated from €107,427 in 2023 to €231,505 in 2024, with the number of fines issued climbing from 47 to 68. Authorities attribute this increase to enhanced controls and improved coordination between agencies, aiming to combat small business ideas at risk of money laundering.
On-site checks of goods traders, such as jewellers, car dealers, and art dealers, rose from 29 in 2023 to 44 in 2024. Real estate agents also faced more scrutiny, with inspections increasing from 21 to 27 over the same period.
The stricter measures have resulted in more fines and higher penalties for violations. Businesses in high-risk sectors now face greater scrutiny from regulators. The state’s approach combines on-site visits, document checks, and cross-agency cooperation to deter illegal financial activity among small business ideas.
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