Information about the MLA - Money Laundering Act
"The legislators require transparency concerning the respective contracting partners of certain enterprises / obligated parties!“
For a number of years now there have been laws, directives and regulations in place designed to detect the 'proceeds of serious crime' and to prevent 'money laundering and terrorist financing' worldwide. These are generally referred to as 'money laundering laws'. This section provides a brief overview and some links to legislation, regulations, etc.
Which companies are obligated according to MLAs?
Credit institutions, financial companies, insurance providers, legal advisors, trustees, financial advisors, consultants and real estate agents. This is not an exhaustive list.
Nature of the obligation under MLAs:
Obligated companies have to identify and carry out checks on the ‘beneficiary’ of a transaction and documentation must be kept with the accompanying commercial documents. This means that the consultants or professional brokers at ASPI AG may also require proof of identity / a copy from the commercial register because they are obliged to do so by law. Each party in the transaction is obliged by law to provide this necessary information and documentation.
Link to the legal text of the MLA in Germany
EU regulations and directives to the Money Laundering Act
Swiss money laundering ordinance 1 and Swiss money laundering ordinance 2
Austrian legal bases for the prevention of money laundering and terrorist financing
ASPI AG consulting in regards to the money laundering act / regulations in the individual countries:
The directors of ASPI AG, as well as the managers and specialist brokers at ASP Global Luxury Properties & Castles can advise you on this issue and are always available to help. They can also inform you if, and to what extent, the investments, capital transfers, companies, etc., and properties you have in mind could be affected by the MLA.
