Pursuant to Section 6a of the German Banking Act (KWG), the German Federal Financial Supervisory Authority (BaFin) may order the blocking of accounts in cases of suspected terrorist financing (the processing of funds to sponsor or facilitate terrorist activity) or in the case of unauthorized financial services transactions. – See observation note, validity, collection agency, account retrieval procedure, account disclosure. – Cf. BaFin Annual Report 2008, p. 208 f. (accounts of a student of Syrian origin with a German passport are frozen; the man’s action against the freeze was dismissed by the competent administrative court [this fact not in BaFin’s report]) and the respective BaFin Annual Report, chapter “Cross-Sectional Tasks.”
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/