Prevention of Money Laundering & Terrorist Financing
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 provenance as well as the financing of terrorist activities. The participants in the Austrian financial market are required to take preventative measures to ensure this, such as determining the identity of customers, as well as showing their cash flows in a comprehensible manner. The combatting 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.
Here you can find further information about:
- The legal basis under national and European law
- The international context
- The role of the various authorities and institutions in Austria
- Notifications
- Country and sanctions lists