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§ 15 – Authority to Issue Regulations

§ 15 – Authority to Issue Regulations – Enhanced Obligations; Authority to Issue Regulations

Further information about AML-CFT – German Version you find direct here:

§ 15 - Authority to Issue Regulations

§ 15 – Authority to Issue Regulations

(1) Enhanced due diligence obligation have to be fullfiled in addition to the diligence obligations

(2) Obliged entities have to fulfil enhance due diligence obligations if they ascertain, the frame of the risk analysis or in an risk factor or in an individual case, taking into consideration risk factors referred to in Annexes 1 and that an increased risk with regard to mon laundering or terrorist financing may exist. The obliged entities determine the concret scope of measures to be taken in accordan with the respective higher risk of mon laundering or terrorist financing. §10 paragraph 2 sentence 4 shall apply analogous to the arguing of appropriateness.

(3) A higher risk exists, in particular, if

  1. a customer of the obliged entity or a beneficial owner qualifies as

a) a politically exposed person, a family member or a person known to be a close associate, or

b) a natural person or legal person who is resideni in a third state with high risk identified by the EuroPean Commission pursuant to the Directive (EU) 20151849; this shall not apply to branches of obliged entities with registered office in the European Unrion according to Article 2 paragraph 1 of Directive (EU) 2015/849 and for subsidiaries established in a third state with high risk the majority of shares of which is owned by obliged entities, to the ex-tent that theY comPlY, without anY restrictions, to the grouP-wide strategies and procedures to be applied by them pursuant to Article 45pa.agraph 1 of Directive (EU) 2015/ 849;

§ 15 – Authority to Issue Regulations – AML German version

  1. the transaction in question’ ln proportion to comparable cases,

a) is particularly complex or big;

b) runs irr an unusual manner’ or

c) is performed withoutny obvious a

    1. for obliged entrties as defined in § 2 economic or legal purPose’ orparagraph l Number 1 to 3 and 6 to 8, a cross-border correspondent relationship is involved with respondents with registered office in a third state or subject to the assessment by the obliged entities as increased risk, in a contracting state of the European Economic Area.

§ 15 – Authority to Issue Regulations – AML German version

(4) In cases covered by paragraph 2 and 3 Number 1, at least the following enhanced due diligence obligations have to be fulfilled:

  1. An .establishmenr or continuarion of a buslness relationship requires the consent of a member of the senior management level;
  1. appropriate measures have to be taken by means of which the ongrn of the funds, which are used in the buisness realtionship or transaction, can be established, and
  2. the business relationship is to be sublect to an enhanced ongoing monitor

If in cases covered by paragraph 3 Numb 1 Letter a), the customer or the benefic owner starts to exercise a prominent pub tunctron.only in the course of the businr retatronship or. if rhe obliged enrity comes know about the exercise of the’prominr public function by the customer or rhe ber trcla.l owner only after the establishment tlre busrness relationship, the obliged ent nas to ensure that the business reltionsl is continued only with ,t” .o..*ni oJ member ot the senior management level.

§ 15 – Authority to Issue Regulations – AML German version

(5) In the case referred to in paragraph Number 2 at least the following enhance due diligence obligations have to be fulfill

  1. The Transaction has to be examined to allow for a monitoring and assessment of the risk of the respective buisness relationships or transactions with regard to money laundering or terrorist financing and an examination, where applicable, whether a reporter obligation pursuant to § 43 paragraph 1 exists, and
  2. the buisness relationship on which the transaction is based, if available, has to be subject to an enhanced on-going monitoring to allow for an assessment of the risk of the buisness relationship with regard to money laundering or terrorist financing and its monitoring in case of higher risk

§ 15 – Authority to Issue Regulations – AML German version

(6) In the case referred to in paragraph Number 3, obliged entities as defined in { paragraph I Number I to 3 and 6 to t ha to fulfil at least the following enhanced d diligence obligations:

  1. sufficient information on the respondent has to be collected to understand the full extent of the nature of his business activity and to be able to assess his reputation, controls for prevention of money laundering and terrorist financing and the quality of his supervision;
  2. before the establishment of the businessrelationship with the respondent, the consent of a member of the senror management level has to be obtained;
  3. before the establishment of such business relationship, thc respective responsibilities with regard to fulfilment of the due diligence obligations have to defined and documented subiect to § 8;measures have to be taken to ensure themeasures have to be taken to ensure the
  4. exclusion of an establishment or contrnuation of a business relationship with a respondent of whom is known that his accounts are used by a bank sl-rell company, and
  5. measures have to be taken to ensure that the respondent does not permit transactions via transactions via transitory accounts.

(7) In case of a formerly politically exposed person, the obliged entities have to take into account for at least twelve calendar months after the exit from the public office the risk which is specific for politically exposed persons, and have to take appropriate and risk-oriented measures for so long until it may be assumed that this risk does not exist any longer.

§ 15 – Authority to Issue Regulations

(8) In case of existence of facts or assei ments of national or international entit for the combating of money laundering a terrorist financing justifying the the assumpt of the existence of an enhanced risk byo the cases referred to in paragraph 3, the entities to subject the transactions or buisness relationships to enhanced monotoring and to fulfil additional due diligence obligations which are appropriate to the risk.

(9) In the event that the obliged entity unable to fulfil the enhanced due diliger obligations, § 10 paragraph 9 shall app analogously.

(10) The Federal Ministry of Finance authorised to determine, in agreement with the Federal Ministry of the Interior, by  regulation not requiring the Bundesra consent, factual constellations in which potential higher risk of money laundering terrorist financing may exist, in particul’ with regard to clients, products, servic, transactions or distribution channels and t obliged entities have to fulfil certain r hanced due diligence obligations. The  factors referred to in Annexes 1 and 2 has to be taken into consideration in the determination.

Compliance & Geldwäschebeauftragter –§ 15 – Authority to Issue Regulations

Unsere Praxisseminare Geldwäsche und Fraud – BasisseminarGeldwäsche und Fraud – AufbauseminarGeldwäsche & Fraud – Update und Geldwäsche & Fraud – Forum verschaffen Ihnen einen umfassenden Überblick zu den aktuellen gesetzlichen Neuerungen und unterstützen Sie dabei, Geldwäsche- und Betrugsstrukturen zu erkennen, zu bewerten und rechtzeitig zu verhindern. In den Compliance-Seminaren wie ComplianceCompliance für VertriebsbeauftragteNeue Compliance-Funktion gemäß MaRisk oder auch Compliance im Fokus der Bankenaufsicht werden Ihnen die Ausgestaltung der Schnittstellen zwischen Compliance, Datenschutz, IT, Zentrale Stelle und Interner Revision näher gebracht. Auch die Mindestanforderungen zum Aufbau eines Gesamt-IKS werden hier beispielsweise näher erläutert.

Zudem haben Sie die Chance, nach Teilnahme der Seminare die Zertifizierungslehrgänge zum Compliance Officer, zum AML & Fraud Officer oder zum Geldwäsche-Beauftragter zu absolvieren.

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