Source: https://sp-consulting.co.uk/%C2%A7-43-reporting-obligation-of-obliged-entity/
Timestamp: 2020-08-04 17:21:10
Document Index: 396235961

Matched Legal Cases: ['§ 43', '§ 43', '§ 11', '§ 2', '§261', '§ 1', '§ 2', '§ 3', '§ 4', '§ 5', '§ 6', '§ 7', '§ 8', '§ 9', '§10', '§11', '§12', '§13', '§14', '§ 15', '§ 44', '§ 45', '§ 46', '§ 47', '§ 48', '§ 49', '§ 56', '§ 57', '§ 43']

§ 43 - Reporting Obligation of Obliged Entity
§ 43 – Reporting Obligation of Obliged Entity
(1) If facts exist which indicate that
a financial asset which is linked with a buisness relationship, broker transaction or other transaction, orginates from a punishable offence of money laundering;
a buisness transaction, transaction or financial assests is linked with terrorist financing
the customer did not fulfil his obligation pursuant to to § 11 paragraph 6 sentence 3 to disclose to the obliged entity whether he wants to establish, continue or carry out the buisness relationship or transaction for a beneficial owner
the obliged entity has to promptly report this matter to ther Central Office for Suspicious Transactions Reports irresprective of the value of the affected financial asset or the amount of the transaction.
(2) In derogation from paragraph 1, obliged entities pursuant to § 2 paragraph 1 Number 10 and 12 are not obliged to report, if the matter subject to a reporting obligation is related to information which they have obtained in the frame of a client relationship subject to a secrecy obligation. However, the reporting obligation shall remain in effect, if the obliged entity knows that the customer used or uses the client relationship for purposes of money laundering, terrorist financing or another criminal offence.
(3) A member of the senior management level of an obliged entity has to submit a report pursuant to paragraph 1 to the Central office for Suspicious Transactions Reports, if
the obliged entity has a branch in Germany
the matter to be reported is linked with the activity of the German branch.
(4) The obligation to pursuant to paragraph 1 does not exclude the voluntary character of a report of §261 paragraph 9 of the penal code.
(5) The Central Office for Suspicious Transactions Reports may, in agreement with the supervisory authorities, define type – casted transactions which always have to be reported pursuant to paragraph 1.
Further information about AML-CFT – German Version you find direct here:
§ 1 – Definitions – AML – CFT – German Version
§ 2 – Obliged entities – authority to issue regulations – AML German Version
§ 3 – Beneficial Owner – AML German Version
§ 4 – Risk management – AML German Version
§ 5 – Risk Analysis – AML German Version
§ 6 – Internal Safeguards – AML German Version
§ 7 Anti-money Laundering Officer – AML German Version
§ 8 – Obliagtion – Recording and Retention – AML German Version
§ 9 – Compliance with obligation – AML German Version
§10 – Due Diligence Obligations with Respect to Customers – AML German Version
§11 – Identification – AML German Version
§12 – Verification of Identity – Authority to Issue Regulations – AML German Version
§13 – Procedure for verification
§14 – Simplified Obligations
§ 15 – Authority to Issue Regulations
Annex 1 – Factors of Potentially Lower Residual Risk
Annex 2 – Factors of Potentially Higher Residual Risk
§ 44 – Reporting Obligation of Supervisory Authorities
§ 45 – Authority to Issue Regualations
§ 46 – Excecution of Transactions
§ 47 – authority to issue regulations
§ 48 – Release from Responsibility
§ 49 – Access to Information and Protection of Reporting Employees
§ 56 – Provisions Governing Fines
§ 57 – Publications of Final Measures
Compliance & Geldwäschebeauftragter – § 43 – Reporting Obligation of Obliged Entity