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The German parliament (Bundestag) has passed a new version of the money laundering offence, which has far-reaching implications for the fulfillment of obligations under the Money Laundering Act.
On 25 March 2021, the German Federal Court (the highest civil court in Germany) ruled that German merchants are allowed to apply a surcharge on payments made via PayPal and Sofort.
At the beginning of the year, the Fifth Money Laundering Directive (“AMLD5”) was implemented in Germany. Thereby, the German Money Laundering Act was subjected to an extensive reform, in regards to penalty infringements ...
Introduction and background
Pursuant to article 96(3) of Directive (EU) 2015/2366 (PSD2), the original Guidelines on major incident reporting were developed in 2017 in close cooperation with the European Central Bank ...
BaFin has published “Guidelines on anti-money laundering for crypto custody business“.
On 1 January 2020, the crypto depository service was introduced as a new financial service under the German Banking Act (Kreditwesengesetz – KWG). The legislation, demanded by European prescriptions, changes Germany’s ...
The UK’s Payment Systems Regulator (PSR) recently published its proposed five-year strategy, setting out the key outcomes and strategic priorities that will guide its operations. Given the rapid pace of development in ...
Germany will introduce changes to its legislation regarding the access to technical infrastructure by payment service providers in Spring 2022.
The so-called "PSD2" is the revision of an existing directive from 2007, called the "Payment Services Directive" or "PSD" or "PSD1".
The requirement of Strong Customer Authentication (SCA) for payment service providers was scheduled for 14 September 2019. Germany’s Federal Financial Supervisory Authority (BaFin), however, just announced it will not ...