Austria: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, December 1, 2009
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- Austria: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: December 1, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451802481.002
Summary
- Presents a Detailed Assessment Report on Antimoney Laundering (AML) and Combating the Financing of Terrorism (CFT) for Austria.
- Authorities have designed and are implementing a comprehensive AML/CFT system.
- The AML/CFT system is 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.
- Additional resources should be allocated to supervisory bodies.
Key findings
- Comprehensive AML/CFT framework exists and is under implementation.
- Institutional support: well-developed federal administrative and supervisory bodies.
- Stakeholder engagement: active professional organizations contribute to the regime.
- Supervisory effectiveness: financial institution supervision is generally sound and efficient.
- Gaps identified: weaknesses in licensing requirements and the sanctions regime.
- Resource constraints: supervisory bodies require additional resources.
Policy recommendations
- Strengthen licensing requirements for relevant entities.
- Reinforce the sanctions regime to ensure effective deterrence and enforcement.
- Allocate additional resources to supervisory bodies to improve oversight capacity.
Metadata and context
- Publication series: IMF Staff Country Reports
- Publication date indicated on page: December 1, 2009
- Pages: 387
- DOI: https://doi.org/10.5089/9781451802481.002
- Issue: 298
- ISBN: 9781451802481
- ISSN: 1934-7685
International Monetary Fund. "Austria: Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2009, 298 (2009), accessed 9/13/2026, https://doi.org/10.5089/9781451802481.002