The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 60,000 against Raiffeisenlandesbank Niederösterreich-Wien AG. The proceedings were concluded in an accelerated manner pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The reason for the fine is a breach of the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäsche-Gesetz). Raiffeisenlandesbank Niederösterreich-Wien AG specifically failed to continually apply its policies and procedures regarding due diligence obligations for updating the information, data and documents under the FM-GwG as well as for the ongoing monitoring of the business relationship. In addition, its policies and procedures regarding individual due diligence obligations were inadequate. The penal order is final.