Anti-Money Laundering Act (AMLA)

In line with § 2 clause 10 German Anti-Money Laundering Act, a significant group of traders, amongst others credit institutions, insurance companies, lawyers, notaries, auditors, trustees and also real estate agents are obliged by law to comply with the provisions of the German Anti-Money Laundering Act (AMLA) and to act accordingly in conducting their business activities.

Concerning our business activities, the law imposes certain obligations on us, in particular the

establishment of the identity of the contracting partners by collecting relevant information,
verification of the identity through inspecting original documents,
clarification, whether the contracting partner acts on behalf of an economic beneficiary,
clarification of the PEP-status (PEP= politically exposed person).

As contracting partner you are legally obliged to provide all these necessary information and documents. Appropriate regulations are mentioned in §§ 4 section 6 and section 2 number 1 German Anti-Money Laundering Act.

Before a business relationship is established or a transaction is conducted, we are obliged to identify the contracting partners and, if any, economic beneficiaries, according to the provisions of the German Anti-Money Laundering Act (AMLA) (§§4 and 8). For this purpose, we have to collect the following data from our contracting partners and to verify their correctness by inspecting relevant documents:

Requirements for contracting partners

For natural persons: surname, all prenames, place of birth, date of birth, nationality, address, type of identification paper, identity number and issuing authority. Verification by showing a valid official identity document with a photograph, with which the identity card and passport obligation is fulfilled.

For legal persons or partnerships: company, name or designation, legal form, register number, address of office or headquarter, names of members of the representative body or legal representatives. Additionally, in these cases, the assessment of the economic beneficiary is indispensable. By examining a certificate of registration or a register of cooperatives or a comparable official register, we have to verify the correctness of the data above.

Politically exposed person: It needs to be clarified, whether the contracting partner or the economic beneficiary as well as their relatives or closely related parties hold or did held an important political position.

We conduct the gathering of information and verifications by using a form. Please support us in the data collection and documentation.

We thank you for your cooperation and for your support.

more information:

Information sheet