Austria: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

December 1, 2009

Preview Citation

Format: Chicago

Austria: Report on Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Summary

The paper presents a report on Austria’s Observance of Standards and Codes for Financial Action Task Force Recommendations for Antimoney Laundering (AML)/Combating the Financing of Terrorism (AML/CFT). The Austrian 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, Revenue administration, Terrorism, Terrorism financing

Keywords: A number of financial institutions, Anti-money laundering and combating the financing of terrorism (AML/CFT), Authorities record, Authority, CR, Criminal procedure, District authority, Due diligence, Eastern Europe, Financial institution, Financial institution secrecy, ISCR, Legal support in revenue administration, Non-Financial business, Offense, Predicate offense, Risk assessment, Supervisory authority, Terrorism, Terrorism financing, Trade authority

Publication Details

Pages:

15
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/299
Stock No:

1AUTEA2009003
ISBN:

9781451802498
ISSN:

1934-7685

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