{"id":18617459,"date":"2025-10-23T11:00:00","date_gmt":"2025-10-23T09:00:00","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=18617459"},"modified":"2025-10-23T11:54:04","modified_gmt":"2025-10-23T09:54:04","slug":"announcement-fma-imposes-sanction-against-volksbank-niedersterreich-ag-for-a-breach-of-due-diligence-obligations-for-the-prevention-of-money-laundering-and-terrorist-financing","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/announcement-fma-imposes-sanction-against-volksbank-niedersterreich-ag-for-a-breach-of-due-diligence-obligations-for-the-prevention-of-money-laundering-and-terrorist-financing\/","title":{"rendered":"Announcement: FMA imposes sanction against Volksbank Nieder&ouml;sterreich AG for a breach of due diligence obligations for the prevention of money laundering and terrorist financing"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 52,000 against Volksbank Nieder&ouml;sterreich AG. The proceedings were concluded in an accelerated manner pursuant to Article&nbsp;22 para.&nbsp;2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbeh&ouml;rdengesetz). The reason for the fine is due to breaches of the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldw&auml;sche-Gesetz). Specifically, Volksbank Nieder&ouml;sterreich AG did not have appropriate policies and procedures in place to ensure observance of the obligation to obtain and verify the origin of funds when conducting incoming payments made in cash and accompanying ex-post checks. The penal order is final.<\/p><p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FMA imposes sanction against Volksbank Nieder\u00f6sterreich AG for a breach of due diligence obligations for the prevention of money laundering and terrorist financing<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[85],"tags":[],"class_list":["post-18617459","post","type-post","status-publish","format-standard","hentry","category-sanction"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Announcement: FMA imposes sanction against Volksbank Nieder&ouml;sterreich AG for a breach of due diligence obligations for the prevention of money laundering and terrorist financing - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/announcement-fma-imposes-sanction-against-volksbank-niedersterreich-ag-for-a-breach-of-due-diligence-obligations-for-the-prevention-of-money-laundering-and-terrorist-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Announcement: FMA imposes sanction against Volksbank Nieder&ouml;sterreich AG for a breach of due diligence obligations for the prevention of money laundering and terrorist financing - 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