Bundesbank chief backs tighter scrutiny

Germany's Bundesbank put its weight behind Berlin's efforts to combat money laundering and tighten up scrutiny of potential terrorist accounts on Tuesday, in spite of possible infringements of bank secrecy.

Ernst Welteke, president of the German central bank, said in an interview with the Financial Times: "If investigations are under way into drugs dealing, terrorism or tax avoidance, and reach a dead-end due to bank secrecy, then it's difficult for me to understand that.

"In some cases, we

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