You are here: 

Announcement: FMA imposes sanction against Raiffeisenbank Altenmarkt-Flachau-Eben eGen for two breaches of the due diligence obligations for the prevention of money laundering and terrorist financing

Release Date: |

The Austrian Financial Market Authority (FMA) announces that it has imposed a fine of EUR 100,000 against a Raiffeisenbank Altenmarkt-Flachau-Eben eGen (by way of the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG)) for two breaches against the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäschegesetz). In one specific instance Raiffeisenbank Altenmarkt-Flachau-Eben eGen omitted to reclassify the business relationships in question into “high” risk category and omitted to submit a suspicious activity report in relation to money laundering.

The penal order is final.

Previous news entry: «