Financial agent

Regulatory designation of persons or entities, – who make their account available or allow it to be shared (allow to have access to their bank account), – in exchange for a commission, – in order to forward payments received into the account. – Almost all of these cases involve proceeds from illegal transactions, namely incoming funds obtained from third-party accounts through fraudulent acts, especially phishing. Several criminal courts convicted financial agents of unauthorized provision of payment services and money laundering. Subsequently, defrauded persons then enforced civil claims against financial agents, ranging from garnishment of salary to auction of real property. Avenging angels were also sent after financial agents. This and the repeated warnings of the Federal Financial Supervisory Authority (BaFin) have led to a general distrust of such services. Above all, institutions now also take care to ensure that accounts held with them are not misused for such purposes and that suspicious cases are reported to the supervisory authority. – See domicile concealment, enabler, sledgehammer attack, IT risks, pharming, legal risks, skimming, underground banking, payment institution, payment institution registry. – Cf. BaFin Annual Report 2011, pp. 180 f. (suspicion of money laundering; incorrect information provided by agents; unauthorized financial transfer transactions) and the respective BaFin Annual Report, chapter “Supervision of banks, financial service providers and payment institutions).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/