BfDI criticizes the draft of the Financial Crimes Combating Act

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Summary:

The German government has presented a draft law to combat financial criminality, known as the Finanzkriminalitu00c3tsbeku00c3u00a4mpfungsgesetz (FKBG). The law aims to improve the fight against money laundering by creating an independent Federal Agency for Combating Financial Criminality (BBF) with a whole-of-government approach to data analysis, criminal and administrative investigations, and financial supervision. However, the Federal Commissioner for Data Protection and Freedom of Information (BfDI), Professor Ulrich Kelber, criticizes the draft law for lacking sufficient data protection and constitutional safeguards, and for creating new, potentially intrusive data processing powers. The BfDI also raises concerns about the lack of clear boundaries between the responsibilities of the BBF and the Federal Criminal Police Office in the area of money laundering.