Identification under the German Money Laundering Act (GwG Identification)
When opening an account with a financial institution in Germany, or, for example, when changing account holders, an identification and legitimacy check are legally required. This process is based on the German Money Laundering Act (GwG), which mandates verification of the identity of both individuals and entities wishing to open an account in Germany. The Delegation of German Industry and Commerce in Vietnam (AHK Vietnam) is authorized under the GwG to perform this identity verification on behalf of financial institutions based in Germany.
View more