The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 127,500 against NOTARTREUHANDBANK AG. The reason for the fine is due to breaches of the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäsche-Gesetz). NOTARTREUHANDBANK AG specifically did not have appropriate strategies, controls and procedures in place regarding due diligence for the ongoing monitoring of its business relationships with customers, including the checking of transactions conducted during the course of the business relationship, to ensure that they match the bank’s knowledge about the customer, its business activities, and risk profile as well as where necessary regarding the source of their funds that were commensurate to their size and activity, and such information was also not adequately determined in written form. The penal order is not final.
Update: 13.04.2026
NOTARTREUHANDBANK AG has lodged an appeal to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.