GwG Report
The GwG Report (Anti-Money Laundering Report) enables companies to identify the beneficial owner(s) of their national contractual partners before entering into a business relationship with them. The obligation to determine the natural person(s) behind a business relationship (in technical jargon the ultimate beneficial owner(s)) is a key principle of the Anti-Money Laundering Act (Geldwäschegesetz – GwG). In addition to the communication data of the requested company, the GwG Report provides information on any hard negative events known about the beneficial owner, together with the date of birth.
The beneficial owner within the meaning of the AMLA is the natural person
- that ultimately owns or controls the contractual party,
- at whose instruction a transaction is ultimately carried out or a business relationship is ultimately established.
In the case of companies, beneficial owners are all natural persons who hold more than 25% of the capital shares in the entity or control more than 25% of the voting rights.
Key benefits
- Report that supports the fulfilment of a core obligation under the AMLA with the material information
- Quick and easy identification of the beneficial owner(s) via b.ONE
- Transparent research path stating shares in per cent
- Information on the existence of hard negative events relating to the beneficial owner(s)
