Prevention of Money Laundering & Terrorist Financing

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A central goal of the financial sector as a whole is to prevent the abuse of the financial market and the financial system for disguising and channelling of assets of illegal origin as well as the financing of terrorist activities. The participants in the Austrian financial market are required to take preventive measures to ensure this, such as determining the identity of customers, as well as showing their cash flows in a comprehensible manner. The combating of money laundering and terrorist financing is a complex and international issue, in which many national and international authorities and institutions cooperate closely with one another.

 

Further information:

Links

Financial Action Task Force

Meldestelle Geldwäsche (in German only)

Legal

Legal bases (in English as available).

FMA Circulars (in English as available)