In the bustling city of Hamburg, two individuals find themselves entangled in an alleged fraud scheme that involved more than 200,000 euros. The 21-year-old employee of a metal recycling company is suspected of making false scrap deliveries, which resulted in the company unfairly crediting the alleged supplier with the substantial sum.
According to the police, the 21-year-old and the 29-year-old supplier had devised a plan to split the ill-gotten gains. During their investigation, the police raided residences in Hamburg-Tonndorf and Hamburg-Dulsberg, seizing documents, data carriers, 30,000 euros, and a car. The suspects are being investigated for commercial fraud.
It's also worth noting that the 29-year-old supplier is also under investigation in connection to this case. The Hamburg police are scrutinizing the details and are yet to make a formal announcement regarding potential criminal charges against both individuals.
While this specific case does not appear in the annual report of the German Financial Intelligence Unit (FIU), the FIU plays a crucial role in combating financial crimes like money laundering and terrorist financing.
In 2023, the FIU received a total of 322,590 Suspicious Transaction Reports (STRs), a decrease of 14,596 reports from the previous year, representing a 4.33% decrease[1]. The FIU adopts a risk-based approach to filtering incoming reports, focusing on high-risk transactions made possible by recent amendments to the German Money Laundering Act[1].
A case study presented in the report details how a company's accountant was tricked into transferring around 850,000 euros to an unknown party. The FIU's swift intervention led to the seizure of approximately 600,000 euros from the targeted account, demonstrating the effectiveness of international collaboration in combating financial crimes[1].
The FIU also enables law enforcement agencies, including the Federal Office for the Protection of the Constitution (BfV) and the Federal Criminal Police Office (BKA), to access data automatically for their investigations[1]. Additionally, the FIU collaborates with supervisory authorities to safeguard against illegal online gambling by sharing relevant information[1].
[1] German Financial Intelligence Unit (FIU) Annual Report 2023. (n.d.) Retrieved from
