Germany’s financial regulator BaFin has introduced a new digital procedure for the prior notification of appointments, changes, or dismissals of money laundering officers (Geldwäschebeauftragter) and their deputies. Effective from 13 June 2025, this change aims to simplify the existing process by moving it onto BaFin’s online reporting and publication platform, the MVP-Portal.
RegTech company Zeidler Group recently outlined what these changes mean.
The new system affects all entities subject to the German Money Laundering Act (GwG) that are overseen by BaFin under Section 50(1) and (2) of the legislation. While the obligation to report changes to money laundering officers is not new, the method for submitting this information has shifted from email or post to a digital-only format. BaFin stated this move is designed to streamline submissions, improve verification and ultimately reduce compliance friction for obligated firms.
From mid-June 2025, all such notifications under Section 7(4) GwG must be made through the MVP-Portal. Entities that have not yet registered for access will need to complete the onboarding process, which is detailed on the BaFin website. The regulator has also published a user manual to guide firms through both the general registration and the specific steps for this reporting obligation.
Once registered, companies must also apply separately for access to this particular reporting procedure. This too is outlined in the BaFin manual. Once BaFin confirms the approval, obligated entities can submit the required information electronically, and download a PDF confirmation for their records.
The transition to digital reporting aligns with broader efforts across the EU to modernise regulatory compliance and reduce the administrative burden on financial institutions.
Legal and compliance experts, including those at the Zeidler Group, are advising firms to take immediate steps to register on the MVP-Portal. This will ensure that they are ready to comply without delay when a money laundering officer change arises.
Zeidler Group regulatory consultant teams are prepared to support firms throughout the onboarding process and help interpret the regulatory nuances of BaFin’s latest procedures.
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