On Dec. 11, 2018 GE BaFin published the finalized version of the AML guidance.
- Interpretation and application instructions to the money laundering act (GwG).
- Implementing customer due diligence, internal safeguards, risk-based approach.
- Legal innovations, e.g. the concept of fictitious beneficial owner, are explained.
- Obligations in connection with identification of the person appearing are clarified.
- Interpretative notes take into account developments in markets and regulations.