On 20 February 2014 the European Council announced the intention to impose targeted sanctions, including the freezing of assets, against individuals who are brought into connection with human rights violations as a result of the current developments in Ukraine. In this context the Austrian Financial Market Authority (FMA) draws attention to the fact that enhanced customer due diligence is to be applied in cases where an increased risk of money laundering or terrorist financing exists. Transactions or business relationships involving politically exposed individuals from Ukraine fall under this legal provision. Parties who suspect or have reasonable grounds to suspect that a transaction or a an asset component is connected with money laundering or terrorist financing are required to file a suspicious transaction report with the Financial Intelligence Unit of the Federal Office of Criminal Investigation (BKA). No further processing of transactions is to take place pending clarification of the case.
Journalists may address further enquiries to:
Gudrun Pelinka
+43/(0)1/24959-6002, +43/(0)676/882 49 514