The German Anti-Money Laundering Act (GwG)

Based on the EU-wide Anti-Money Laundering Directive (AMLD) , the German Anti-Money Laundering Act obligates companies in the financial sector to verify identities within their KYC and KYB processes. The aim of the requirements in §§ 10 to 15 GwG is to combat money laundering, terrorist financing, and other forms of financial fraud. Furthermore, companies are required to conduct customer due diligence checks, perform risk classifications, implement transaction monitoring measures, and establish processes for reporting suspicious activities.

BaFin Circular 3/2017

In 2017, the German Federal Financial Supervisory Authority (BaFin) issued a circular setting specific requirements for video identification procedures, which obliged companies must comply with under the GwG.

Anti-Money Laundering Video Identification Regulation (GwVideoIdentV)

In April 2024, the Federal Ministry of Finance (BMF) presented a draft regulation on anti-money laundering identification to give BaFin Circular 3/2017 a formal legal basis and enshrine the use of video identification procedures in its own law. The draft also aims to increase legal certainty and incorporate new technologies. The GwVideoIdentV is currently in the evaluation phase of submitted statements and may still be amended.

eIDAS Regulation (EU No. 910/2014)

On May 20, 2024, the revision of the “Regulation (EU) No. 910/2014” on electronic identification and trust services for electronic transactions in the internal market came into force through Regulation “(EU) No. 2024/1183,” known as eIDAS 2.0. A central element is the introduction of an identity wallet (EUDI Wallet), enabling individuals and companies to use valid identification both online and offline and to access authentication services securely, easily, and uniformly across Europe. It also aims to improve interoperability between national identification systems.

Digital Operational Resilience Act (DORA)

With DORA, Regulation (EU) 2022/2554 on digital operational resilience in the financial sector , the EU has created regulation addressing cybersecurity, ICT risks, and digital operational resilience. This regulation is intended to strengthen the European financial market against cyber risks and ICT incidents. Since January 17, 2025, all companies in the financial sector have been required to implement the obligations arising from DORA.

MiCA Regulation (Markets in Crypto-Assets Regulation)

The MiCA Regulation (Markets in Crypto-Assets Regulation) is the first comprehensive regulation for cryptocurrencies and related services in the EU, creating a unified legal framework to protect consumers, ensure financial stability, and foster innovation in the crypto sector. Everything about MiCA

With the EU AI Act, regulating the use of artificial intelligence (AI), another essential framework came into effect on August 1, 2024. Companies in the financial sector are also required to define and integrate appropriate measures for legally compliant implementation into their systems.

General Data Protection Regulation (GDPR)

Binding since 2018, the GDPR defines how personal data of natural persons must be processed by companies based in the EU or offering services to EU citizens, even if located outside the EU.

How fast is WebID Portal ready to use?

WebID Portal is ready to use immediately and companies across all industries benefit from the fact that this solution generates no integration effort and no internal IT costs. Of course, test options are available so the use of the dashboard can be tested in advance.

Which identification methods can be used with WebID Portal?

With WebID Portal, companies have access to all our identification and signature procedures – and very soon we will also integrate CorporateID, which will enable companies to identify and verify legal entities in the context of Know-Your-Business (KYB) processes.

Is there a minimum/maximum number of identification and signature processes?

In the standard solution, there is no minimum/maximum number of transactions. For maximum transparency, each transaction is billed individually. Optionally, individual agreements can be made.

What are the components of a AML-compliant KYC process?

Customer onboarding : As already mentioned, identification of customers in accordance with GwG/AML requirements is essential for a legally, regulatory and data protection compliant KYC process. Customer Due Diligence : As part of the verification process, banks, financial institutions and many other companies are required to check whether the person may be exposed to a particularly high risk of money laundering, terrorist financing or other types of fraud. Ongoing monitoring : Circumstances can change, which is why continuous monitoring as well as regular re-verification of the identity of existing customers are fixed components of KYC processes that comply with anti-money laundering legislation.

How long does a KYC check take?

The actual KYC process only takes a few minutes, but the verification process in the background can take longer — for example, when politically exposed persons (PEPs) need to be checked. These PEPs include politicians and their relatives, or employees in government authorities, who, due to the higher risk of corruption and bribery, must undergo extended or Enhanced Due Diligence (EDD) as part of the KYC procedure.

What is the difference between AML and KYC?

Both terms are often used synonymously, but there is a difference: The AML (Anti-Money Laundering) — refers to the framework of laws and regulations that companies must follow in order to prevent money laundering and other fraud risks. KYC, on the other hand, refers specifically to the verification of a customer’s identity — but it is an important component of the overall AML framework.

Which companies must have AML-compliant KYC processes in place?

In principle, almost all companies and individuals who operate in industries with an increased risk of money laundering are subject to KYC obligations — for example, in the financial sector, the gambling industry, real estate transactions or the trade of high-value goods. This includes in particular: banks, credit institutions and financial service providers, but also lawyers, notaries, auditors as well as crypto currency platforms.

Why are there different solutions for AML-compliant KYC processes?

WebID offers different fully automated solutions for the verification of digital identities , which we tailor, among other things, to legal requirements, the specific use case or individual security needs.

Which identity documents does WebID support?

WebID supports identity documents from over 200 countries and territories, including ID cards, passports as well as residence permits and selected driver’s licenses. A flexible solution for diverse requirements! Country list (EN)

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WebID Portal

KYC “without IT”: Intuitive, secure, compliantKYC “without IT”: Intuitive, secure, compliant

WebID Portal – the no-code cockpit. For all legally and regulatorily obligated companies that want to independently manage their KYC-compliant identification and signature processes, along with all related operations. Hosted in Germany. Ready to use immediately and banking-grade secure.WebID Portal – the no-code cockpit. For all legally and regulatorily obligated companies that want to independently manage their KYC-compliant identification and signature processes, along with all related operations. Hosted in Germany. Ready to use immediately and banking-grade secure.

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Over 300+ companies trust usOver 300+ companies trust us

All IncludedAll Included

With the WebID Portal, companies benefit from WebID's automated, semi-automated, and AML-compliant identification and signature solutions, such as the AML-compliant solutions VideoID, AccountID, AutoID, SignID, and TrueID.With the WebID Portal, companies benefit from WebID's automated, semi-automated, and AML-compliant identification and signature solutions, such as the AML-compliant solutions VideoID, AccountID, AutoID, SignID, and TrueID.

Very Clear

The dashboard provides a quick and clear overview of all identification and signature processes.

Simply Compliant

Thanks to the WebID Portal, companies benefit from AMLA-compliant identification and signature solutions – even without in-depth IT/development and integration knowledge.

Truly Intuitive

The dashboard is intuitively designed and can be used without any special prior knowledge, for example when creating new processes with the on-page form.

Enormously Flexible

The dashboard is cloud-based and allows location-independent access – yet is still optimally protected thanks to multi-factor authentication.

Multiple Signatures

Signature positions can be placed in the WebID Portal using drag & drop, and up to six signatories can be added per process.

KYC Compliance: Ready to Use Right Away, No HassleKYC Compliance: Ready to Use Right Away, No Hassle

The WebID Portal allows an optimal connection to existing services and infrastructures and enables the integration of company-specific processes. Best of all, the WebID Portal is a no-code solution that is ready to use right away, with no IT effort required. Here are just three variants that illustrate the possibilities for integrating our identification procedures via the WebID portal.The WebID Portal allows an optimal connection to existing services and infrastructures and enables the integration of company-specific processes. Best of all, the WebID Portal is a no-code solution that is ready to use right away, with no IT effort required. Here are just three variants that illustrate the possibilities for integrating our identification procedures via the WebID portal.

All you need to proceed

Secure and Without IT Hurdles with WebID PortalSecure and Without IT Hurdles with WebID Portal

Companies using the WebID portal to independently manage their signature and identification processes benefit not only from an intuitive and easy-to-use dashboard. They also gain the assurance that their KYC processes are conducted in compliance with the GwG (German Money Laundering Act) using WebID solutions.Companies using the WebID portal to independently manage their signature and identification processes benefit not only from an intuitive and easy-to-use dashboard. They also gain the assurance that their KYC processes are conducted in compliance with the GwG (German Money Laundering Act) using WebID solutions.

AccountID

High-Speed Identity Verification

Identify your customers with a reference transfer via online banking. Our process is fully automated, instantly available, and compliant with AML (Anti-Money Laundering) regulations — for maximum security and optimal convenience.Identify your customers with a reference transfer via online banking. Our process is fully automated, instantly available, and compliant with AML (Anti-Money Laundering) regulations — for maximum security and optimal convenience.

AutoID

AI meets Identity

With AutoID, your users experience the thrill of verification — fast, efficient and secure. Stay ahead with WebID.With AutoID, your users experience the thrill of verification — fast, efficient and secure. Stay ahead with WebID.

CorporateID

Identification of Companies: Valid and Efficient

With CorporateID, regulated companies reduce the internal personnel costs involved in identifying legal entities, partnerships, and beneficial owners.With CorporateID, regulated companies reduce the internal personnel costs involved in identifying legal entities, partnerships, and beneficial owners.

VideoID (Live)

Security via Live-Video

Rely on VideoID (Live) for secure and personal online identification. Ideal for customers who expect maximum security and the highest quality standards.Rely on VideoID (Live) for secure and personal online identification. Ideal for customers who expect maximum security and the highest quality standards.

VideoID (Review)

AI meets expert review

VideoID (Review) is our eIDAS compliant solution that is also AML-compliant in most countries worldwide and boosts your security level by reviewing the automated identification process by one of our ident experts.VideoID (Review) is our eIDAS compliant solution that is also AML-compliant in most countries worldwide and boosts your security level by reviewing the automated identification process by one of our ident experts.

TrueID

Our Fastest and Smartest Identification

Use TrueID to verify users with existing digital identities. Simple authentication via SMS-OTP ensures faster processing and happier customers.Use TrueID to verify users with existing digital identities. Simple authentication via SMS-OTP ensures faster processing and happier customers.

SignID

Sign Digitally

Enable your customers to sign documents digitally and in a legally compliant manner. Perfect for contracts, consents and other important documents. Simple and smart.Enable your customers to sign documents digitally and in a legally compliant manner. Perfect for contracts, consents and other important documents. Simple and smart.

Keeping Financial Supervisory and Data Protection Requirements in FocusKeeping Financial Supervisory and Data Protection Requirements in Focus

Compliance officers in banks, insurance companies, and asset managers face almost continuous new regulations, especially in the areas of technology and data risks, consumer and investor protection, as well as risk management and governance. Here is a rough overview:

Digital identity made simple

Find the industry that describes you ideallyFind the industry that describes you ideally

Banking

Tilo Hacke

Member of the Executive Board at Deutsche Kreditbank AG

“With our new feature, we are meeting market demand for a fully digital mortgage process while also realizing our own ambition for modern process automation. The digital contract signing optimizes the customer journey through efficiency and speed.”

KYC-Identitätsprüfung für Krypto-Unternehmen

Crypto

E-Commerce

E-Government

E-Health

Entertainment

Christian Chmiel

COO

"WebID's fast and reliable verification technology is revolutionising the e-sports sector, guarantees us consistently satisfied players and is indispensable for our platform."

Mobility

FinTech

Michael Herschlein

CEO

"With WebID, we have found a scalable solution that precisely fulfils all expectations and the legal framework conditions of the financial sector."

Know Your Customer (KYC) – Everything You Need to Know About Conducting a KYC Check in Compliance with Money Laundering LawsKnow Your Customer (KYC) – Everything You Need to Know About Conducting a KYC Check in Compliance with Money Laundering Laws

In order for companies in regulated—and increasingly also unregulated—sectors to ensure that they offer their products and services exclusively to reputable customers, they need to know who they are dealing with. This is where KYC comes in: KYC stands for “Know Your Customer.” This article in the WebID glossary explains what KYC is, what a modern KYC process looks like, what obligations banks and other financial institutions have, and what solutions are available for a secure KYC process.In order for companies in regulated—and increasingly also unregulated—sectors to ensure that they offer their products and services exclusively to reputable customers, they need to know who they are dealing with. This is where KYC comes in: KYC stands for “Know Your Customer.” This article in the WebID glossary explains what KYC is, what a modern KYC process looks like, what obligations banks and other financial institutions have, and what solutions are available for a secure KYC process.

Learn more

See it to believe itSee it to believe it

WebID Portal – the cockpit for companies in all industries wishing to manage their identification procedures independently. Hosted in Germany. Intuitive, ready to use, and bank-approved.WebID Portal – the cockpit for companies in all industries wishing to manage their identification procedures independently. Hosted in Germany. Intuitive, ready to use, and bank-approved.

Inside the Finances of the Vatican Inside the Finances of the Vatican

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