Austria’s progress in strengthening measures to tackle money laundering and terrorist financing

Follow Up Report Austria - Dec 2017

Download pdf ( 1,913kb)

15 December 2017 – As a result of Austria’s progress in strengthening its framework to tackle money laundering and terrorist financing since last year’s mutual evaluation, the FATF has re-rated the country on 10 of the 40 Recommendations.

Austria has been in an enhanced follow-up process, following the adoption of their mutual evaluation, which assessed the effectiveness of Austria’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and their compliance with the FATF Recommendations. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the progress it has made to strengthen its AML/CFT framework, in particular by improving national AML/CFT policy coordination and assessment of risk.

This report analyses Austria’s progress in addressing the technical compliance deficiencies identified in the mutual evaluation report. The report also looks at whether Austria has implemented new measures to meet the requirements of FATF Recommendations that have changed since their 2016 mutual evaluation.

To reflect this progress, the FATF has re-rated Austria on Recommendations: 1, 2, 9, 10, 12, 15, 16, 18, 22, and 29.

The FATF welcomes the steps that Austria has taken to improve its technical compliance with Recommendations 23 and 28; however, insufficient progress has been made to justify a re-rating of these Recommendations.

More on: