What Does a Suspicion of Money Laundering Mean for You?

Banks report suspicious transactions directly to the relevant authorities, primarily the Financial Intelligence Unit (FIU)at German Customs. But not every report actually involves money laundering. Often, completely innocent individualsare affected – simply because they are managing their own money.

Still: As soon as a bank submits a suspicion report, things get complicated. The tax office and other authorities take notice, the tax investigation unit may step in – and suddenly you find yourself under general suspicion.

The Problem:

Banks such as Comdirect or PayPal are increasingly quick to react to transactions, often freezing accounts based on internal algorithms – without a clear legal basis.
Once frozen, this can lead to complete financial standstill: rent, utilities, salaries and other essential payments can no longer be made.

Why Banks Act This Way – and Why It’s Legally Questionable

Under the German Money Laundering Act (GwG), banks are obliged to report suspicious activity.
But in practice:

• Banks overextend their security measures to protect themselves

• Account freezes occur without warning and often lack proper justification

• Those affected usually find out by chance, hidden in online banking messages or emails

• Account closures often follow a freeze – without any chance for clarification

Suspicion alone is not enough to justify such drastic action.
This is exactly where TaxPro comes in.

How TaxPro Helps You

Only the TaxPro tax experts know how to help you safely navigate out of the money laundering trap.
Anyone who responds incorrectly or relies on prolonged talks with the bank risks far more than just a blocked account.

We ensure that:

• Banks and authorities follow legal procedures. You have rights – and we make sure they’re respected

• Your funds are made available again as quickly as possible – whether it’s a frozen account or withheld payments

• Suspicion reports don’t lead to further unjustified consequences. Tax investigation offices and tax authorities cannot simply place you under general suspicion

• You avoid financial damage. A frozen account can lead to penalty charges, contractual fines, or even loss of business

Trust the experts at TaxPro – and be sure that your money remains yours.