Global Policy Forum

Germany is First Foreign Government to Hold Money Laundering, Terrorist Financing Conference on US Soil

Money Laundering
May 5, 2004

The German government, through its embassy in Washington, D.C., will conduct on May 25 the first money laundering conference on United States soil ever sponsored by a foreign government. It is titled "Money Laundering and Terrorist Financing: What Has Been Achieved in Countering Abuse of the Financial System? What Needs to be Done?"

The one-day event at the German Embassy will hear from 17 speakers from the public and private sectors. They include U.S. representatives of the Federal Reserve Board, Office of the Comptroller of the Currency, Financial Crimes Enforcement Network, Federal Bureau of Investigation, as well as representatives of the American Bankers Association, the American Council of Life Insurers and the Securities Industry Association.

Several experts from Germany round out the list of speakers, including Michael Findeisen, Ministerial Counselor of the Ministry of Finance; Thorsten Hoeche, Director of the Association of German Banks; Hans-Martin Lang, Senior Principal of the German Financial Supervisory Authority; Sabine Vogt, Senior Principal of the German Criminal Police Office and Thomas Spies, Managing Director of Deutsche Bank AG.

An official of the Economic Department of the German Embassy said the motivation for this conference was "to enhance the understanding of the two nations' approaches and to provide a forum for discussion of what has been achieved to date and what steps can be taken in the future."

The conference will conduct panels on international standards and guidelines; private sector approaches to AML and terrorist financing; and national regulations, government oversight and law enforcement. Information about the conference is available from the German Embassy at telephone 202-298-4340 in Washington.

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