BaFin Warns of Job Advertisements That May Facilitate Crypto-Asset Money Laundering

The German financial regulator BaFin has published a warning about job advertisements for back office and administration support positions that may be involved in unauthorised crypto-asset services.

According to BaFin, these jobs require applicants to receive third-party payments through their own domestic bank account and forward them on instruction or exchange them into crypto-assets. This is not a legitimate job description, but rather a way for scammers to use the applicant's account as a transit station for money that likely originated from victims of criminal acts.

The regulator warns that once this money is exchanged into crypto-assets, it can no longer be unwound in practice, and the transfer and exchange of funds require permission or authorisation. BaFin has warned about this activity several times before under different job titles, including 'work as a trust assistant'.

Gross negligence, which includes ignoring obvious doubts about the origin of the money, is punishable by up to two years in prison or a fine under Section 261 of the German Criminal Code. If someone acts commercially or as part of a gang, the sentencing range can be from six months to ten years.