Primary source company intelligence via Know Your Business (KYB) Solution


Austria’s AML/CTF supervisors

The Austrian Financial Intelligence Unit (A-FIU)

By receiving, analysing, and publishing reports on questionable transactions related to money laundering and terrorism financing, the Austrian Financial Intelligence Unit (A-FIU) oversees preventing money laundering.

The Austrian Financial Market (FMA)

The regulation of credit institutions, insurance undertakings, investment businesses, investment service providers, and payment institutions is within the purview of the Austrian Financial Market Authority (FMA). The Financial Markets Anti-Money Laundering Act compliance is monitored by the FMA in its capacity as a supervisory authority.

How do you comply with AML/CTF regulations in Austria?

  1. When beginning a business relation
  2. When carrying out sporadic transactions that either involve an amount of at least EUR 15,000 or its equivalent in another currency or involve a transfer of funds that exceeds EUR 1,000
  3. For each deposit into savings and each withdrawal from savings, if the amount deposited or withheld is at least EUR 15,000 or its equivalent in another currency
  4. If the institution is wary of money laundering or terrorism financing and there are questions about previously acquired identification data
  1. Copies of the paperwork and data gathered during the customer due diligence, for a period of 10 years following the conclusion of the commercial connection or a one-time transaction
  2. Receipts and transaction records for ten years following the conclusion of the business partnership or a one-time transaction
  1. Customer-level risk classification
  2. Risk management systems
  3. Customer due diligence
  4. Reports of suspicious activity
  5. Documentation preservation
  6. ML/TF provisions training, including how to identify potential ML/TF related activities and what to do in them