Financial Industry

For financial industry, we offer a 360° AML-compliance service in accordance with the Money Laundering Act using high-quality standardised procedures. Due to the high volume of reports, it is particularly important to ensure the quality of the reports so that the FIU can react to them as quickly as possible, and no business-damaging delays occur due to queries. Kerberos ensures the quality by involving digital KYC solutions and experts for processing cases. Learn more

To comply with all money laundering regulations, financial service providers must also rely on specially trained employees. They must be able to recognise so-called "red flags" when processing customer enquiries or onboarding new customers and investors. Through its own learning platforms, Kerberos not only ensures that you have access to learning content tailored to your needs, but also that your employees are regularly and automatically tested regarding their knowledge. At the same time, the skill level of your employees can be easily reviewed by desired positions in your company. Learn more

Our money laundering officers also ensure that your company complies with all regulations and obligations under the Money Laundering Act in the long term. We do not set up risk analyses and money laundering prevention concepts as a one-off, but review and update them regularly as soon as necessary. Learn more

Experts and policymakers often complain that although security systems exist in the financial sector, they are no longer up to the current challenges. Online banks, trading apps, crowdfunding and capital management - they not only open up ever new and better opportunities for customers to manage their own money and invest it profitably through digital services, but are also used by criminals. For example, they use complex cross-border transactions and domestic and foreign intermediaries or straw men and women.

Although many of these transactions sooner or later arouse suspicion, money laundering nevertheless remains attractive. This is because by the time compliance systems check for and detect violations, criminals have long since been able to transfer their illegally generated funds back to other accounts. The trail to those behind the crime is quickly lost, and with it the possibility of stopping money laundering and terrorist financing or the evasion of sanctions.

First and foremost, the legislator is focusing on strengthening the supervisory authorities, for instance for financial service providers, the BaFin (Federal Financial Supervisory Authority). This authority is to be expanded and reinforced with more employees in the next few years. In addition, it is being examined to what extent stakeholders, who are not allocated to the financial sector and thus subject to BaFin's control - this includes, for example, financial companies and insurance intermediaries - could be supervised more closely. The Wirecard case has led to a greater awareness of money laundering, which primarily affects the FinTech sector.

It can therefore be assumed that in addition to increased international cooperation among supervisory authorities and organisations such as the "Anti Financial Crime Alliance" - which also includes Kerberos as a member - strengthened institutions such as the BaFin, the circles of obligated parties or their obligations and assigned supervisory authorities will also be addressed further in the future.