The Financial Action Task Force (FATF) country report that was published today has endorsed the Austrian Financial Market Authority’s (FMA) rigorous efforts in the fight against money laundering and terrorist financing. The report rates the Austrian financial sector as “substantial” in terms of effectiveness, the second highest possible rating and highest rating achieved in FMA’s field of supervision in Austria since country assessments started. In the fifth round of FATF country assessments currently under way, Austria has therefore laid down a yardstick for European standards.
Combating money laundering and terrorist financing and efforts to ensure a clean financial centre have been a priority for the FMA for over a decade. The current FATF report confirms that this focus has had an impact: supervision is effective, risk-based and well positioned in an international context. The FMA and the financial sector have done their duties and have had a substantial positive influence on Austria’s overall rating and its reputation as a financial venue.
“As a global standard-setter, the FATF has confirmed the line we have pursued against illegal financial flows: zero tolerance for money laundering and terrorist financing and effective sanctions supervision“, emphasised FMA Executive Director Helmut Ettl. “Over the past few years we have strengthened structures, tools, and our enforcement power. It has been demanding, but a poor result would have proven disproportionately more expensive for Austria as a financial centre. The FATF’s findings show that our consistency and perseverance are paying off.”
Clear progress
While the previous FATF assessment in 2016 highlighted clear room for improvement, the FMA made significant progress on the prevention of money laundering and terrorist financing front, by increasing staffing levels, strengthening analytical capabilities, and becoming more rigorous in its enforcement. The 2026 report acknowledges this progress. The substantial progress made by the supervised sector has made a marked contribution. Institutions have strengthened and professionalised their compliance structures, and have built up specialised competence centres. Their risk awareness and the number of suspicious activity reports have risen, while there has been a reduction in particularly high-risk business relationships.
“A clean financial centre is not an end in itself, but serves as a foundation for trust and credibility in our financial venue,” emphasised FMA Executive Director Mariana Kühnel. “The Austrian financial market’s reputation is strengthened by the FATF’s international endorsement. We will continue to work relentlessly, in close cooperation with our European partners, to put a stop to illegal financial flows.”
National and International Cooperation
With the transfer of responsibility for sanctions supervision to the FMA in 2026, the prevention of money laundering and terrorist financing are closely integrated with enforcing international financial sanctions in the Austrian financial market. This bundling of competences strengthens supervisory effectiveness, permitting more efficient one-stop supervision. Close and established cooperation with the Oesterreichische Nationalbank (OeNB) ensured a seamless handover.
The report also highlights the importance of institutional cooperation. In addition to the OeNB, the FMA also cooperates particularly closely on an ongoing basis with the Federal Ministry of Finance (BMF), the Austrian Financial Intelligence Unit (A-FIU Geldwäschemeldestelle) housed at Criminal Intelligence Service Austria (Bundeskriminalamt), as well as the Directorate State Protection and Intelligence Service (DSN).
A positive assessment by the FATF does not afford the FMA any grounds for complacency. The report contains recommendations for further optimisation, with work already under way on implementing these recommendations – also with a view towards the European framework and the step-by-step establishment of the EU Anti-Money Laundering Authority (AMLA). Adjustments to the annual risk assessment, refining of supervisory tools and targeted inspection planning are already being implemented. A clean financial centre isn’t to be taken for granted: Illegal financial arrangements don’t stand still, which is why financial institutions and supervisors also need to continuously move with the times.
The FATF report can be downloaded from the FATF website.
Journalists may address further enquiries to:
Boris Gröndahl (FMA Media Spokesperson)
+43 1 24959-6010
+43 676 8824 9995