Austria: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
December 1, 2009
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This paper presents a Detailed Assessment Report on Antimoney Laundering (AML) and Combating the Financing of Terrorism (CFT) for Austria. The authorities have designed and are implementing a comprehensive AML/CFT system, supported by well-developed federal administrative and supervisory bodies, and active professional organizations. The supervisory system for financial institutions is generally sound and efficient. Licensing requirements and the regime of sanctions need to be strengthened, and additional resources should be allocated to supervisory bodies.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Legal support in revenue administration, Money laundering, Revenue administration, Terrorism financing
Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), beneficial owner, court case, CR, criminal offense, due diligence, Europe, financial institutions, ISCR, Legal support in revenue administration, Money laundering, notary public, Terrorism financing, terrorist group
Pages:
387
Volume:
2009
DOI:
Issue:
298
Series:
Country Report No. 2009/298
Stock No:
1AUTEA2009002
ISBN:
9781451802481
ISSN:
1934-7685
