Definitions

(1) Money laundering within the meaning of this Act is an offence under section 261 of the Criminal Code.
(2) Terrorist financing within the meaning of this Act is 1. the provision or collection of assets with the knowledge or intent that they are to be used, in whole or in part, to commit one or more of the following offences: a) an offence under section 129a of the Criminal Code, including in conjunction with section 129b of the Criminal Code, or b) another of the offences described in Articles 3, 5 to 10 and 12 of Directive (EU) 2017/541 of the European Parliament and of the Council of 15 March 2017 on combating terrorism and replacing Council Framework Decision 2002/475/JHA and amending Council Decision 2005/671/JHA (OJ L 88, 31.3.2017, p. 6), 2. the commission of an offence under section 89c of the Criminal Code, or 3. inciting or aiding and abetting an offence under no. 1 or 2.
(3) Identification within the meaning of this Act consists of 1. collecting information for the purpose of identification, and 2. verifying that information for the purpose of identification.
(4) A business relationship within the meaning of this Act is any relationship that is directly connected with the commercial or professional activities of the obliged entities and that, at the time the contact is established, is expected to be of a certain duration.
(5) A transaction within the meaning of this Act is, or consists of, one or, where a connection appears to exist between them, several acts that are intended to bring about, or that bring about, a movement of money or some other transfer of assets. For the intermediation activities of obliged entities under section 2(1), nos. 14 and 16, the legal transaction that is intermediated is deemed to be the transaction within the meaning of this Act.
(6) A trust within the meaning of this Act is a legal arrangement established as a trust, where the law applicable to its establishment provides for the legal institution of the trust. Where the law applicable to its establishment provides for a legal institution modelled on the trust, legal arrangements established using that legal institution are also deemed to be a trust.
(7) An asset within the meaning of this Act is 1. any item of value, whether tangible or intangible, movable or immovable, corporeal or incorporeal, and 2. legal documents and instruments in any form, including electronic and digital form, evidencing title to, or an interest in, assets referred to in no. 1.
(7a) Real property within the meaning of this Act means plots of land, rights equivalent to rights in land, and co-ownership shares in plots of land that are listed in the register of a land register folio.
(8) Gambling within the meaning of this Act is any game in which a player pays consideration for the chance of winning and the occurrence of a win or a loss depends wholly or predominantly on chance.
(9) A dealer in goods within the meaning of this Act is a person who trades in goods on a commercial basis, irrespective of in whose name or for whose account.
(10) High-value goods within the meaning of this Act are items 1. that, on account of their nature, market value or intended use, are distinguishable from everyday consumer goods, or 2. that, on account of their price, do not constitute an everyday purchase. They include in particular 1. precious metals such as gold, silver and platinum, 2. precious stones, 3. jewellery and watches, 4. works of art and antiques, and 5. motor vehicles, ships and motor boats, and aircraft.
(11) A real estate agent within the meaning of this Act is a person who arranges, on a commercial basis, the conclusion of contracts of purchase, lease or tenancy relating to plots of land, rights equivalent to rights in land, commercial premises or residential premises.
(12) A politically exposed person within the meaning of this Act is any person who is or has been entrusted with a prominent public function at the international, European or national level, or with a public function below the national level whose political significance is comparable. Politically exposed persons include in particular: 1. persons holding the following functions: a) heads of state, heads of government, ministers, members of the European Commission, deputy ministers and state secretaries, b) members of parliament and members of comparable legislative bodies, c) members of the governing bodies of political parties, d) members of supreme courts, constitutional courts or other high judicial bodies whose decisions are not generally subject to further appeal, e) members of the governing bodies of courts of auditors, f) members of the governing bodies of central banks, g) ambassadors, chargés d'affaires and high-ranking officers in the armed forces, h) members of the administrative, management or supervisory bodies of state-owned undertakings, and i) directors, deputy directors, members of the governing body, or other persons in a comparable function, of an intergovernmental international or European organisation; 2. persons holding offices that are included in the list published by the European Commission pursuant to Article 1, no. 13 of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (OJ L 156, 19.6.2018, p. 43). The Federal Ministry of Finance shall compile, update and transmit to the European Commission a list pursuant to Article 1, no. 13 of Directive (EU) 2018/843. Organisations referred to in the second sentence, no. 1, letter i) that are established in Germany shall transmit to the Federal Ministry of Finance for that purpose, annually by the end of each year, a list of the important public functions covered by this provision.
(13) A family member within the meaning of this Act is a close relative of a politically exposed person, in particular 1. the spouse or registered civil partner, 2. a child and that child's spouse or registered civil partner, and 3. either parent.
(14) A person known to be a close associate within the meaning of this Act is a natural person of whom the obliged entity must have reason to believe that that person 1. jointly with a politically exposed person, a) is the beneficial owner of an association within the meaning of section 20(1), or b) is the beneficial owner of a legal arrangement within the meaning of section 21, 2. maintains other close business relations with a politically exposed person, or 3. is the sole beneficial owner a) of an association within the meaning of section 20(1), or b) of a legal arrangement within the meaning of section 21, where the obliged entity must have reason to believe that the arrangement was in fact established for the benefit of a politically exposed person.
(15) A member of senior management within the meaning of this Act is an officer or senior employee of an obliged entity who has sufficient knowledge of the entity's money laundering and terrorist financing risk exposure and the authority to take decisions affecting that exposure. A member of senior management need not also be a member of the management body.
(16) A group within the meaning of this Act is a combination of undertakings consisting of 1. a parent undertaking, 2. the subsidiaries of the parent undertaking, 3. the undertakings in which the parent undertaking or its subsidiaries hold a participation, and 4. undertakings that are linked to one another by a relationship within the meaning of Article 22(1) of Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).
(17) A third country within the meaning of this Act is a state 1. that is not a Member State of the European Union, and 2. that is not a state party to the Agreement on the European Economic Area.
(18) E-money within the meaning of this Act is e-money within the meaning of section 1(2), third and fourth sentences of the Payment Services Supervision Act.
(19) A supervisory authority within the meaning of this Act is the competent supervisory authority under section 50.
(20) The reliability of an employee within the meaning of this Act exists where the employee provides the assurance that he or she will 1. carefully observe the obligations laid down in this Act, other money-laundering-law obligations, and the strategies, controls and procedures introduced by the obliged entity for the prevention of money laundering and terrorist financing, 2. report facts under section 43(1) to a superior or to the anti-money laundering officer, where an anti-money laundering officer has been appointed, and 3. not be involved, whether actively or passively, in doubtful transactions or business relationships.
(21) A correspondent relationship within the meaning of this Act is a business relationship in the course of which the following services are provided: 1. banking services, such as the maintenance of a current account or other payment account and the provision of related services such as cash management, the execution of international money transfers or foreign exchange transactions, and the clearing of cheques, by obliged entities under section 2(1), no. 1 (correspondents) for CRR credit institutions or for undertakings in a third country that carry on activities equivalent to those of such credit institutions (respondents), or 2. similar services, insofar as such services may, under the applicable statutory provisions, be provided by obliged entities under section 2(1), nos. 1 to 3 and 6 to 9 (correspondents) for the following respondents: a) other CRR credit institutions or financial institutions within the meaning of Article 3, point 2 of Directive (EU) 2015/849, or b) undertakings or persons in a third country that carry on activities equivalent to those of such credit institutions or financial institutions. This includes in particular relationships established for securities transactions or money transfers.
(22) A shell bank within the meaning of this Act is 1. a CRR credit institution or a financial institution within the meaning of Article 3, point 2 of Directive (EU) 2015/849, or 2. an undertaking a) that carries on activities equivalent to those of such a credit institution or financial institution and that is incorporated in a commercial register or comparable register in a country in which it has no actual direction and management, and b) that is not affiliated with a regulated group of credit or financial institutions.
(23) An art intermediary within the meaning of this Act is a person who, on a commercial basis, arranges the conclusion of contracts of purchase for works of art, including as an auctioneer or gallery owner. An art storage provider within the meaning of this Act is a person who stores works of art on a commercial basis. It is immaterial in whose name or for whose account the activity referred to in the first or second sentence is carried on.
(24) A financial undertaking within the meaning of this Act is an undertaking whose principal activity consists in 1. acquiring, holding or disposing of participations, 2. acquiring monetary claims with a financing function for consideration, 3. dealing in financial instruments on its own account, 4. acting as a financial investment broker under section 34f(1), first sentence of the Trade Regulation Act or as a fee-based financial investment adviser under section 34h(1), first sentence of the Trade Regulation Act, unless the brokering or advice relates exclusively to investments that are distributed or issued by obliged entities under this Act, 5. advising undertakings on capital structure, industrial strategy and related questions, and advising and providing services to undertakings in connection with mergers and the acquisition of undertakings, or 6. arranging loans between credit institutions (money broking). Holding companies whose sole purpose is to hold participations in undertakings outside the credit institution, financial institution and insurance sector and that do not carry on any entrepreneurial activity going beyond the tasks connected with the administration of the participations held are not financial undertakings within the meaning of this Act.
(25) A parent undertaking within the meaning of this Act is an undertaking that has at least one other undertaking within the meaning of subsection (16), nos. 2 to 4 subordinate to it, and that is not itself subordinate to any other undertaking.
(26) Financial information within the meaning of this Act is all types of information or data, in particular data on financial assets, movements of money, or financial business relationships, already held by the Financial Intelligence Unit or by other financial intelligence units within the meaning of Article 32 of Directive (EU) 2015/849, for the purpose of preventing, detecting and combating money laundering and terrorist financing.
(27) A financial analysis within the meaning of this Act is the result of the operational and strategic analysis already carried out by the Financial Intelligence Unit or by another financial intelligence unit within the meaning of Article 32 of Directive (EU) 2015/849 for the performance of its tasks under Directive (EU) 2015/849.
(28) The reference to 1. Directive (EU) 2015/849 designates Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, as last amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU; 2. Directive (EU) 2019/1153 designates Directive (EU) 2019/1153 of the European Parliament and of the Council of 20 June 2019 laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences, and repealing Council Decision 2000/642/JHA; 3. Regulation (EU) 2016/794 designates Regulation (EU) 2016/794 of the European Parliament and of the Council of 11 May 2016 on the European Union Agency for Law Enforcement Cooperation (Europol) and replacing and repealing Council Decisions 2009/371/JHA, 2009/934/JHA, 2009/935/JHA, 2009/936/JHA and 2009/968/JHA; 4. Regulation (EU) 2023/1113 designates Regulation (EU) 2023/1113 of the European Parliament and of the Council of 31 May 2023 on information accompanying transfers of funds and certain crypto-assets and amending Directive (EU) 2015/849 (OJ L 150, 9.6.2023, p. 1); 5. Regulation (EU) 2023/1114 designates Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150, 9.6.2023, p. 40).
(29) Crypto-assets within the meaning of this Act are crypto-assets within the meaning of Article 3, point 14 of Regulation (EU) 2023/1113.
(30) A crypto-asset transfer within the meaning of this Act is any crypto-asset transfer within the meaning of Article 3, point 10 of Regulation (EU) 2023/1113.
(31) Crypto-asset service providers within the meaning of this Act are crypto-asset service providers within the meaning of Article 3(1), point 15 of Regulation (EU) 2023/1114, where they provide one or more crypto-asset services within the meaning of Article 3(1), point 16 of Regulation (EU) 2023/1114, with the exception of advice on crypto-assets within the meaning of Article 3(1), point 16, letter h) of Regulation (EU) 2023/1114.
(32) Issuers of asset-referenced tokens within the meaning of this Act are issuers of asset-referenced tokens under Article 16(1), letter a) of Regulation (EU) 2023/1114 that do not offer asset-referenced tokens to the public exclusively through a crypto-asset service provider, or that do not apply for their admission to trading exclusively through a crypto-asset service provider.
(33) A self-hosted address within the meaning of this Act is a self-hosted address within the meaning of Article 3, point 20 of Regulation (EU) 2023/1113.