In Germany, Section 24c of the German Banking Act (KWG) requires banks to keep all customer master data and transaction data available for automated retrieval. Under the Interest Information Regulation (ZIV), which came into force in 2005, all interest income in the EU must also be automatically reported to the relevant Federal Central Tax Office (BZSt) in Bonn. – Sensitive transactions are therefore increasingly carried out in cash, or a nominee or straw man is used. – See Address Spoofing, Authentication Requirement, Bank Information, Observation Note, Escape Money, Money, Dirty, Money Laundering, Hawala, Identity Theft, Identity Verification Requirement, Information Requirement, Innominate, Insider Transaction, Account Disclosure, Account Blocking, Account, Anonymous, Credit Register, Public, Nominee, Numbered Account, Offshore Financial Centers, Outsourcing, Pasion Trap, Payment Transactions Regulation, Interest Information Regulation, Second ID. – Cf. 2013 BaFin Annual Report, p. 85. (Recommendations on customer authentication by the European Forum on the Security of Internet Payments).
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