The new issue of the Austrian Financial Market Authority (FMA) consumer information series “Let’s talk about money” (Reden wir über Geld) addresses the issue of terrorist financing. The current edition, entitled “Funding Terrorism? Not with My Money!” explains how people may also unwittingly become involved with terrorist financing – for example if responding to apparent humanitarian calls for donations, misleading collections or payments on social media. The brochure shows why the topic is also relevant for consumers and what to watch out for when making donations and other payments.
Terrorist financing is often difficult to detect, as it is not always conducted openly, but in many cases indirectly through associations, assisting structures or small individual monetary amounts. This is precisely what makes prevention so important. Financial entities are legally obliged to check the risks of money laundering and terrorist financing; this is why customers may be required to provide additional information about the purpose of a payment to the recipients in an everyday context. The new edition explains how checks contribute to ensuring that the financial market is not misused for criminal or terrorist purposes.
The brochure provides answers to issues like what constitutes terrorist financing, how well-meaning donations can be misused, why particular caution is needed regarding calls for donations on social media, and why particular care is needed when making payments in crypto-assets. Furthermore, it gives specific tips about how consumers can check calls for donations critically and how they can chose well-known and transparent organisations. It also mentions the Austrian Quality Seal for Donations (österreichische Spendengütesiegel).
The current edition of “Let’s talk about money” can be found in English, along with all past editions on the website https://redenwiruebergeld.fma.gv.at/en. “Reden wir über Geld” is also active on Instagram: @redenwiruebergeld
Journalists may address further enquiries to
Boris Gröndahl (FMA Media Spokesperson)
Telephone: +43/(1)249/59-6010
Mobile: +43 676 8824 9995
E-Mail: [email protected]