Why do banks ask to see copies of identification documents, ask questions or ask for proof about the source of funds? In the latest episode of the “Reden wir über Geld” (Let’s talk about money) podcast, host Patricia Floh-Weninger speaks to FMA expert Annegret Droschl-Enzi about the background regarding the legal basis for the prevention of money laundering.
They explain about how banks identify risks, why information is required to be updated regularly, and about the role of the origin of assets. The episode also focuses about how customers can be taken advantage of as money mules, as well as the potential consequences in the event that banks are unable to fulfil their legal duty to cooperate.
This episode, as well as all other episodes of the “Reden wir über Geld” series can be found (in German only) here: https://reden-wir-ueber-geld.podigee.io/