BAFIN'S AML REVISION: IMPACT ON FIRST AND SECOND LINE OF DEFENSE

On November 29, 2024, BaFin published an updated interpretation and application note on the German Anti-Money Laundering Act ("AMLA"), which will come into force on February 1, 2025. With this long-awaited update, BaFin is pursuing the goal of...

Banking & Sustainability: Update on the EU taxonomy - simplification of reporting requirements

The European Commission has presented a draft delegated act on the EU taxonomy that simplifies disclosure requirements for banks and companies. The aim is to reduce the administrative burden and improve the applicability of...

DEVELOPMENT OF SUSTAINABILITY IN THE BANKING SECTOR: BETWEEN SETBACKS AND CHALLENGES

Recent developments in the area of sustainability at financial institutions are characterized by contradictory trends. While European banks are continuing their efforts to reduce CO2 emissions, such as through...

BaFin measures against PAYONE - What does this mean for the future of the payment service provider?

The financial supervisory authority BaFin has once again identified serious deficiencies in Payone's anti-money laundering and IT processes. This has led to increased capital requirements and the appointment of a special representative. But what does...

The Pillar 3 Data Hub is coming: set the course now for a smooth transition.

On February 12, 2025, the European Banking Authority (EBA) published a new Implementing Technical Standard (ITS) for banks' disclosure requirements. The most important changes concern the central recording of...

BaFin assessment: These six main risks will pose significant challenges for banks in 2025

The current year brings with it a number of new challenges for banks. The German Federal Financial Supervisory Authority (BaFin) has identified six main risks that require special attention. As CURENTIS AG, we support...

CSRD implementation in Germany delayed: take a deep breath or seize the opportunity?

This article examines the current situation regarding the delay in CSRD implementation in Germany, the impact on companies and the planned simplification of EU reporting obligations. It also discusses CURENTIS AG's recommendation for proactive...

Germany's fight against money laundering: big plans, meagre results

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Germany is repeatedly criticized internationally for inadequate measures to combat money laundering. The Financial Action Task Force (FATF) regularly attests to the country's considerable deficits. Every year, according to...

ESG risks: EBA sets minimum standard for the management of ESG risks

The European Banking Authority (EBA) has set a milestone with the final guideline on the management of environmental, social and governance (ESG) risks. The directive aims to integrate ESG risks into the internal...

DEFI DILEMMA: BALANCING INNOVATION AND FINANCIAL INTEGRITY

Decentralized Finance (DeFi) is changing the way we think about money and financial systems. By using blockchain and smart contracts, it eliminates the need for traditional intermediaries like banks, offering more direct and transparent transactions....

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