Germany new blocked account amount

In Germany, there is a law called the "Geldwäschegesetz" (Money Laundering Act) that requires banks to report and block certain transactions to prevent money laundering and terrorist financing. One aspect of this law is the requirement to block accounts with a certain amount of money.

As of 2022, the blocked account amount in Germany is €10,000. This means that if a customer deposits or transfers more than €10,000 into their account within a 12-month period, the bank is required to report this transaction to the Financial Intelligence Unit (FIU) and block the account.

The blocked account amount is intended to help prevent money laundering and terrorist financing by identifying and reporting suspicious transactions. The FIU then analyzes the reported transactions to determine whether they are legitimate or not.

It's worth noting that the blocked account amount is not a fixed amount and can be adjusted by the German government. Additionally, there are some exceptions to the blocked account amount, such as for certain business transactions or for transactions involving foreign currencies.

It's also important to note that the blocked account amount is not the same as the "Geldwäsche-Schwelle" (Money Laundering Threshold), which is the amount above which a transaction is considered suspicious and must be reported to the FIU. The Geldwäsche-Schwelle is currently set at €3,000.