Erweiterter Zugriff auf deutsche Banken

July 2021
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The US AML Act 2020 provides US authorities with broad subpoena powers over German banks that have no other nexus to the US than holding a US correspondent bank account. The article positions the new power in the wider context of the US-German law enforcement cooperation and points at the enhanced appetite of the US Government to pursue crimes like corruption, money laundering or tax evasion internationally.