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Money laundering prevention

IDENTIFYING AND AVOIDING RISKS: YOUR OBLIGATIONS, OUR SERVICES

it's all about this

Identify illegal money flows at an early stage and prevent these from becoming mixed with legally generated funds. European and national legislators pursue multiple avenues to achieve this goal. Money laundering prevention is a current issue because Germany is still considered a money laundering paradise, not only among experts!

YOUR CHALLENGE

Lawmakers have repeatedly amended the Money Laundering Act, most recently at the beginning of the year. Many companies now face stricter requirements.

These include:

  • Performing risk analyses
  • Taking precautionary measures
  • Performing identification processes
  • Stricter reporting obligations in the event of violations

Failure to take action can result in fines and even imprisonment for even seemingly careless violations. In addition, companies face damage to their image due to the publication of decisions regarding fines, for example.

WHO HAS OBLIGATIONS

The Money Laundering Act creates obligations for many different parties. These include:

  • Financial service providers/ finance companies
  • Insurance companies/brokers
  • Lawyers, notaries, patent attorneys, tax consultants, auditors/accountants
  • Capital management companies
  • Gambling organizers/agents
  • Real estate agents
  • Goods dealers, art agents

OUR SOLUTION(S)

INTEGRITY is experienced when it comes to identifying, assessing and illustrating company-specific money laundering risks.

We work with you to propose and implement suitable countermeasures developed on the basis of the legal requirements and the results of the risk analysis. This also includes the correct approach to handling violations.

Analyses


Beginning with initial risk analyses, we closely examine and evaluate your specific money laundering risk management and recommend any necessary actions.

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Concept design & implementation


We implement necessary and reasonable measures in view of the legal requirements. This encompasses processes for specific risk management, internal safeguards, “Know Your Customer” (KYC) procedures, together with processes for reporting violations via a whistleblower system.

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Case and authority management


If suspicions arise or the circumstances are unclear, we support you with investigating, documenting and reporting or communicating with the relevant authorities.

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Money laundering officer


Upon request, we can assume the money laundering officer role for you on a permanent basis.

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Training


We train your employees to raise their awareness of money laundering risks and help your company to effectively comply with reporting obligations.

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Your contact persons

Location Aachen

Dr. Eric Heitzer

Managing Partner
Certified Data Protection Officer (Bitkom)
Certified Privacy Professional Europe (CPPE)
Lawyer

+49 241 4134 455-120

ADDITIONAL CONSULTING SERVICES

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Data protection


We deliver data protection tailored to your needs: As a complete package covering every aspect of your company or as individual elements such as training or cookie consent tools, etc.

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Compliance


We assess the specific money laundering risks within your company and effectively eliminate these risks.