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S+P Services: Central Contact Point (CCP) in Germany

European regulations for combating money laundering (AML) and terrorist financing (CFT) are continually evolving, especially with the proposed amendments to Delegated Regulation (EU) 2018/1108. These changes introduce new requirements for electronic money institutions (EMIs), payment service providers (PSPs), and increasingly for crypto-asset service providers (CASPs). One key innovation is the obligation to appoint Central Contact Points (CCPs) in EU Member States. Our services help you meet these obligations efficiently.

S+P Services: Central Contact Point (CCP) in Germany

What is a Central Contact Point (CCP)?

A Central Contact Point (CCP) acts as a liaison between an institution, such as an EMI, PSP, or CASP, and the competent authorities in an EU Member State. The main responsibilities of a CCP include:

  • Communication with competent authorities: The CCP ensures efficient exchange of reports, inquiries, and relevant information between the institution and local supervisory authorities.

  • Compliance with AML/CFT regulations: The CCP monitors whether the local entities of the institution comply with applicable AML/CFT regulations.

  • Support during audits: The CCP facilitates supervisory investigations and audits by providing relevant documents and information.

  • Conducting training: The CCP organizes training programs to enhance awareness and competence in AML/CFT-related matters.

Why Outsource the CCP Function?

Outsourcing the CCP function offers several benefits, particularly for companies aiming to increase efficiency and minimize regulatory risks:

  1. Cost-efficiency: Operating an in-house CCP can be resource-intensive. Outsourcing allows companies to benefit from specialized services without building additional internal resources.

  2. Expertise: An experienced external provider brings in-depth knowledge of local regulations and best practices, ensuring your company remains compliant at all times.

  3. Flexibility: External CCPs can quickly adapt to regulatory changes and implement necessary adjustments.

Our Services as an External CCP

We provide comprehensive services to support your company in fulfilling the CCP role. Our offerings include:

  • AML/CFT Compliance: Developing and monitoring policies and procedures to combat money laundering and terrorist financing.

  • Regulatory Reporting: Managing communication with competent authorities, including the Financial Intelligence Unit (FIU) in Germany.

  • Training Programs: Organizing and conducting training for your employees to ensure a thorough understanding of AML/CFT requirements.

  • Risk-Based Approaches: Implementing risk-based procedures to monitor and mitigate compliance risks.

Regulatory Basis for CCPs in Germany

Under Section 41 of the German Payment Services Supervision Act (ZAG) and the new drafts of Delegated Regulation (EU) 2018/1108, companies are required to appoint CCPs when operating cross-border in Germany and other EU Member States. These requirements apply specifically to EMIs, PSPs, and soon also CASPs, to ensure compliance with local AML/CFT regulations.

Learn more about our services here: Appointment of a Central Contact Person § 41 ZAG.

Why Choose Us?

With extensive experience in AML/CFT compliance and a team of experts, we support companies in meeting the complex regulatory requirements in Germany and the EU. We work closely with your organization to ensure all legal obligations are implemented effectively.

Contact us today to learn more about our services as a Central Contact Point (CCP) and prepare your company for the upcoming regulatory changes!