The Austrian Financial Market Authority (FMA) hereby announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has confirmed the penal order issued by the FMA against Meinl Bank AG for breaches against the due diligence requirements for prevention of money laundering and terrorist financing with regard to the issue of guilt. Under application of the principle of absorption, the Federal Administrative Court imposed a uniformly calculated fine of EUR 500,000.00 against Meinl Bank AG. The fine is legally final. The orderly final right of appeal was declared to be permissible by the Federal Administrative Court (BVwG; Bundesverwaltungsgericht).
The Supreme Administrative Court (VwGH; Verwaltungsgerichtshof) dismissed the final right of appeal due to there not being any legal issue of fundamental importance.