Service Finder

back

Appointing or dismissing ("discharging") money laundering officers or money laundering officers

Service Description

Financial companies and organizers and brokers of games of chance (obligated parties according to § 2 para. 1 no. 6 and 15 GwG) must have a money launderingämoney laundering officer or a money laundering officer at management level as well as a deputy. The appointment and dismissal of the money launderingäof the Money Laundering Officer or the Money Laundering and his deputy must be reported to the supervisory authority in advance.

The obligation applies specifically to

  • Financial undertakings within the meaning of § 1 para. 24 GwG,
  • bookmakers within the meaning of § 2 para. 1 of the Racing Lottery Act (RennwLottG),
  • casinos,
  • betting agencies,
  • betting agencies within the meaning of § 3 paragraph 5 State Treaty on Gambling, insofar as they offer the sports bet Oddset sports betting,
  • Organizers of online games of chance games of chance (virtual slot machines and online poker) within the meaning of §§ 22a and 22b State Treaty on Gambling 2021
  • For Insurance brokers, notaries, legal service providers and legal service providers,

    service providers, real estate agents and real estate brokers and traders in goods (obligated parties pursuant to § 2 paragraph 1 numbers 8, 10, 11, 13 and 16 AMLA), the competent supervisory authority the appointment of a money launderingämoney laundering officer or an money laundering officer order the appointment of a money laundering officer. For traders in goods, who deal in high-value goods goods, the order is issued in some federal states by general decree. The money laundering officer or the money laundering officer is for compliance with the money laundering regulations responsible. He or she is responsible to the management directly subordinate to the Executive Board. The responsibility of the management level continues to exist.

The most important tasks of a money laundering officer include among others, that:

  • They are the contact person for the law enforcement authorities, the central office for Financial Transaction Investigation Unit (FIU) and for the supervisory authority which verify compliance with due diligence obligations. check compliance with due diligence obligations.
  • They are responsible for implementation and updating of the risk analysis, the design of internal security measures and the monitoring compliance with due diligence obligations within the company.
  • They submit suspicious activity reports to the for Financial Transaction Investigations (FIU) or respond to requests for information from these bodies.

Process flow

  • As an obliged entity, you notify the supervisory authority in advance of the appointment or dismissal of an anti-money laundering officer and their deputy for your company
  • Your notification will be reviewed by the competent authority
  • You will receive a final notification If the person does not have the required qualifications or reliability, the appointment as an anti-money laundering officer or deputy must be revoked at the request of the supervisory authority and a new person must be appointed

Requirements

  • Obliged parties under the Money Laundering Act
    • Only natural or legal persons who are obligated parties under the Money Laundering Act are notifying parties.
  • Authorized representative
    • The person making the report must be a member of management or an internal/external money laundering officer or an internal/external money laundering officer of the company.
  • Domestic place of business
    • The money laundering officer or his/her deputy must carry out his/her activities in Germany.
  • Personal reliability and qualifications
    • The money laundering officer and his or her deputy must demonstrate the necessary personal reliability and professional qualifications.

Which documents are required?

  • Notification of the appointment or dismissal of an anti-money laundering officer and his or her deputy
  • Proof of authorization to report:
    • Proof of appointment as money laundering officer or money laundering officer or
    • Proof that the reporting person is a member of the company's management (e.g. extract from the commercial register or shareholders' agreement).
  • If applicable, a current excerpt from the commercial register
  • Registered companies should submit a current excerpt from the commercial register with their application. Legal entities being established (GmbH, AG) submit the articles of association or articles of incorporation.
  • The supervisory authority reserves the right to request additional information on the qualifications of the relevant employee (e.g. overview of professional career, proof of participation in training courses on money laundering law, etc.) and his/her reliability (e.g. in the form of information from the Federal Central Register or, if applicable, from the Central Trade Register).

What are the fees?

none

What deadlines do I have to pay attention to?

  • The appointment of the money laundering officer and/or the deputy must be made prior to the appointment. There is no deadline, i.e. the notification can also be made at very short notice. The notification is intended to give the authority the opportunity to check the qualifications and reliability of the newly appointed anti-money laundering officer and/or deputy and, if necessary, to object to the appointment in a timely manner.
  • The authority must also be notified in advance of the removal ("dismissal") of the anti-money laundering officer and/or the deputy.

Processing duration

not applicable, this is only an advertisement

Legal basis

§ Section 7 (1) of the Money Laundering Act (GwG) for appointment

§ Section 7 (4) of the Money Laundering Act (GwG) for notification of appointment and dismissal

If applicable in conjunction with General rulings pursuant to Section 7 (3) sentence 2 of the Money Laundering Act

Applications / forms

not applicable

Appeal

  • Forms: yes
  • Online procedure possible: yes
  • Written form required: no
  • Personal appearance required: no

Author

The text was automatically translated based on the German content.

Source: Zuständigkeitsfinder Thüringen (Linie6Plus)

No competent authority found

Please enter your location.