The AML-Department of BaFin is also responsible for the implementation of the Electronic Account Retrieval System pursuant to section 24c of the German Banking Act. Under certain conditions, this allows for the accounts of suspected terrorists or other criminals with credit institutions registered in Germany to be identified and for information to be passed on to the corresponding authority making the request (particularly law enforcement agencies).

If accounts are uncovered belonging to (alleged) terrorists resident in the European Union, the AML-Department for the Prevention of Money Laundering may freeze such accounts and prohibit the corresponding bank from making any transactions with respect to such accounts..for the Prevention of Money Laundering is also responsible for automated account information access pursuant to section 24c of the KWG (“Electronic Account Retrieval System”). Under certain conditions, this allows for the accounts of suspected terrorists or other criminals with credit institutions registered in Germany to be identified and for information to be passed on to the corresponding authority making the request (particularly law enforcement agencies). If accounts are uncovered belonging to (alleged) terrorists resident in the European Union, the AML-Department may freeze such accounts and prohibit the corresponding bank from making any transactions with respect to such accounts.