Pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), the Financial Market Authority (FMA) is entitled in individual cases to disclose to the general public by publication in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other official bulletin with nationwide circulation, the name of a company not entitled to carry out certain banking transactions (Article 1 para. 1 no. 3 BWG).
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 31 January 2009, the FMA is exercising this right and warns against the conclusion of banking transactions requiring a licence with the following provider:
This provider does not possess a licence issued by the FMA to carry out certain banking transactions in Austria. Therefore, the provider is neither allowed to conclude loan agreements nor to grant loans (credit business) on a commercial basis.