Section 12 GwG – Identity verification, power to issue statutory instruments

(1) 1In the cases set out in section 10 (1) no. 1, the verification of the identity of natural persons must be carried out on the basis of

  1. a valid official identity document which includes a photograph of the holder and satisfies the passport and identification requirements in Germany, in particular a German passport, identity card or substitute of a passport or identity card, or a passport, identity card or substitute of a passport or identity card recognised or accepted under German provisions for foreign nationals,
  2. an electronic proof of identity under section 18 of the Act on Identity Cards and Electronic Identification, section 12 of the eID Card Act or section 78 (5) of the Residence Act,
  3. a qualified electronic signature under Article 3 No. 12 of Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257 of 28 August 2014, page 73),
  4. a notified electronic identification scheme under Article 8(2)(c) in conjunction with Article 9 of Regulation (EU) No 910/2014 or
  5. documents under section 1 (1) of the Regulation determining documents admissible for the identification of a person to be identified under the Money Laundering Act for the purpose of opening of a payment account (Verordnung über die Bestimmung von Dokumenten, die zur Überprüfung der Identität einer nach dem Geldwäschegesetz zu identifizierenden Person zum Zwecke des Abschlusses eines Zahlungskontovertrags zugelassen werden).
    2When identity is required to be verified by means of a qualified electronic signature under sentence 1 no. 3, the obliged entity is required to validate the qualified electronic signature in accordance with Article 32(1) of Regulation (EU) No 910/2014. 3In such a case, the obliged entity is also required to ensure that a transaction is executed directly from a payment account within the meaning of section 1 (3) of the Payment Services Supervision Act which is held in the name of the contracting party, with an obliged entity under section 2 (1) sentence 1 no. 1 or no. 3 or with a credit institution located in
  6. another member state of the European Union,
  1. a signatory state to the Agreement on the European Economic Area or
  2. a third country in which the credit institution is subject to due diligence and record-keeping requirements equivalent to the due diligence and record-keeping requirements laid out in Directive (EU) 2015/849 and whose observance is supervised in a manner consistent with Chapter IV Section 2 of Directive (EU) 2015/849.
    (2) In the cases set out in section 10 (1) no. 1, verification of the identity of legal persons or partnerships must be carried out by means of
  3. an extract from the commercial register or register of cooperative societies or a comparable official register or directory,
  4. formation documents or equivalent substantiating documents or
  5. a documented inspection by the obliged entity itself of the data in the register or directory.
    (3) The Federal Ministry of Finance may, in consultation with the Federal Ministry of the Interior, Building and Community, by means of a regulation not requiring the consent of the Bundesrat, designate further documents as appropriate for verifying identity.