Regulatory Alerts2022-02-23
FMA Circular on Reporting Obligations for the Prevention of Money Laundering and Terrorist Financing
The Austrian Financial Market Authority issued this February 2022 circular to guide obliged entities on detecting anomalies and fulfilling reporting duties under the Financial Markets Anti-Money Laundering Act. It defines specific suspicious transaction patterns, including complex legal structures, virtual currency risks, and insurance irregularities, that trigger mandatory reporting to the Financial Intelligence Unit. The document further details the procedural requirements for submitting Suspicious Activity Reports, including format, content, and internal documentation standards.
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