Outsourcing MLRO in Germany: Your Certified Partner for AML Compliance.

Relief and security through outsourcing with S+P Compliance Services!

The Mandatory MLRO Obligations: Our Audit-Proof Scope of Services (GwG)

To ensure sufficient compliance to prevent money laundering, the following compliance obligations must be implemented:

Implementation and monitoring of anti-money laundering and terrorist financing regulations, including cooperation with relevant authorities.
Setting up an effective risk management system with institute-specific risk analysis and ongoing control measures.
Development and updating of internal policies, security systems and appropriate data processing.
Investigating and processing suspicious cases, informing management and the supervisory body.
Training and advising employees on money laundering prevention, terrorist financing and legal regulations.

With S+P Compliance Services at your side, you benefit from first-class expertise and comprehensive support in money laundering prevention – for a secure and compliant business environment!

Outsourcing MLRO in Germany: Your Certified German MLRO

Why Outsourcing the MLRO in Germany is a Worthwhile Decision (4 Core Benefits)

Would you like to outsource the function of Money Laundering Reporting Officer (MLRO)? Discover four compelling reasons why outsourcing your money laundering reporting officer to S+P Compliance Services is a worthwhile decision for your business.

Cost savings: Cooperation with S+P Compliance Services helps you to reduce costs. By outsourcing your money laundering reporting officer, you avoid the expense of recruiting, training and paying an in-house staff while benefiting from our expertise.
Increased efficiency: By transferring responsibility for money laundering prevention to S+P Compliance Services, your employees can concentrate on their core competencies. This leads to greater efficiency and productivity in your company.
Limitation of Liability: Working with S+P Compliance Services allows you to minimize risks and limit your liability. Our experts ensure that your company and your employees always comply with the applicable legal regulations and requirements, thereby avoiding potential legal consequences.
Professionalization: S+P Compliance Services stands for the highest level of professionalism and expertise in the field of money laundering prevention. By outsourcing your money laundering reporting officer to us, you benefit from our extensive experience and industry knowledge, which contribute to the optimal implementation of your compliance strategy.

Business Economics: In-House Solution vs. S+P Compliance Services

Cost Category	In-House Solution (Ø Approx. Annual Cost)	Outsourcing to S+P
Salary & Personnel Expenses	€80,000 – €120,000 / Year	Predictable flat-rate fee with a calculable budget.
Training & Continuing Education	Approx. €5,000 / Year	Included: S+P Certified training & continuous regulatory updates.
Software & Tools	Approx. €20,000 / Year	Included: S+P Tool Box with digital solutions tailored to your business model.
Substitute Coverage (Absence)	Additional effort/cost for internal bridging	Substitution rules contractually integrated into the service agreement.
Total Annual Costs	€95,000 – €145,000	Significantly more cost-effective with full service delivery.

Who Requires an Outsourced MLRO in Germany?

Banks

Credit institutions and their branch offices located in Germany, including branches of foreign institutions.

FinTechs

FinTechs holding German Banking Act (KWG) or Payment Service Provider (ZAG) licenses, as well as their German branches.

Payment Service Provider

Payment service provider and e-money firms holding a Payment Service Provider (ZAG) license, including their German branches.

Investment firms

Investment firms and their branch offices located in Germany, including branches of foreign investment firms.

Capital investment firms

Capital investment firms (KAGB) and foreign Alternative Investment Fund (AIF) managers based in Germany.

Crypto Service Provider

Crypto custodians, managers, and security firms requiring a German Banking Act (KWG) license for crypto services.

Outsourcing MLRO Germany: Ultimate Compliance in 3 Steps | Certified Experts.

Discover the easy and efficient solution for your business by outsourcing your money laundering reporting officer with S+P Compliance Services! In just three uncomplicated steps you can benefit from our experts and tailor-made compliance solutions:

Inquiry: Contact us to discuss your money laundering prevention needs and requirements. Our experienced team is on hand to answer your questions and help you identify your specific compliance challenges.
Offer: Based on your individual needs, we will create a tailor-made offer for outsourcing your money laundering reporting officer. Our flexible service packages offer the ideal solution for companies of all sizes and industries.
Outsourcing contract: After accepting our offer, we will work out an outsourcing contract together, which will form the basis for our successful cooperation. We take care of all the details and ensure seamless integration into your existing processes.

Frequently Asked Questions (FAQs) on MLRO Outsourcing

Which companies are legally required to appoint an MLRO (GwG) in Germany?

The German Money Laundering Act (GwG) requires appointment for institutions such as credit institutions, investment firms, FinTechs (BaFin licensed), payment service providers, and crypto service providers.

How does outsourcing the MLRO affect the management’s liability?

While ultimate supervisory responsibility remains with the management, the outsourcing contract transfers the operational liability for the execution of anti-money laundering duties (risk analysis, monitoring, training, and reporting) to S+P Compliance Services, drastically minimizing the management’s personal risk.

What is the key advantage of a certified MLRO outsourcing service (IDW PS 951)?

Certification according to standards like IDW PS 951 assures BaFin that the outsourced MLRO function meets the highest quality and audit reliability standards. This simplifies regulatory reporting and acceptance.