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Announcement: FMA imposes a sanction against Wiener Privatbank SE for a breach against due diligence obligations for the prevention of money laundering and terrorist financing

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The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 154,000 against Wiener Privatbank SE as a legal entity by means of a penal order for a breach against the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäschegesetz) for failure to identify and verify the identity of all owners of a customer in the highest risk category.

The penal order is final.

Update 24.05.2023:

The Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) has repealed the judgement of the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) that had upheld the FMA’s penal order on the grounds of its content being unlawful.

Update 20.12.2023:

The Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has upheld the FMA’s penal order dated 06.07.2020 in full in the second instance. The orderly right of appeal was deemed to not be permissible. The penal order is final.

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