Article
Bafin Strengthens Anti-financial Crime And Cyber Supervision
Germany's financial regulator Bafin is undertaking a major structural reorganization to intensify supervision of anti-money laundering, counter-terrorism financing, and cyber risks across the financial sector. The authority is creating a new specialized Anti-Financial-Crime division and reallocating approximately 30 additional positions to high-risk areas, signaling heightened scrutiny for financial institutions. What does this mean for compliance frameworks and audit preparedness in the German banking sect
A&O Shearman