Die Regelungsarchitektur des deutschen Geldwäscherechts

Why does anti-money laundering enforcement continue to fall significantly short of its criminal policy objectives despite the continuous expansion and tightening of the underlying legal framework? This question is explored through a comprehensive analysis of the three pillars of the German anti-money laundering regime — the criminal offence of money laundering, the Anti-Money Laundering Act, and the law of asset confiscation — and their systematic interaction. On this basis, the causes of the current deficiencies are identified, and criminal policy reform proposals are developed to promote a proceeds-oriented and preventive approach to combating money laundering.