On July 1, 2025, the German Federal Financial Supervisory Authority (BaFin) published updated interpretation and application guidance on the German Money Laundering Act (GwG). The revised guidance reflects significant changes to the EU #antimoneylaundering (#AML) framework, including new #regulations and directives that must be fully implemented by 2027.
This comprehensive document outlines BaFin’s supervisory expectations for all obliged entities under its remit, including:
▪️ #Banks, #insurance companies, payment and e-money institutions, and crypto-asset service providers
▪️ Obligations related to AML/CFT #riskmanagement
▪️ Customer #duediligence requirements, including those for politically exposed persons (PEPs) and beneficial ownership
▪️ Requirements for suspicious transaction reporting and cooperation with the Financial Intelligence Unit (FIU)
▪️ New rules on crypto-asset transfers aligned with the 2023 Transfer of Funds Regulation (TFR)
Read more at FCC Times https://www.fcctimes.com/2025/07/01/germany-new-bafin-guidelines-set-clearer-obligations-for-financial-sector/?utm_source=RZOLUTWebsitet&utm_medium=FCCRegUpdate11Aug25
