Austria falling short in fight against money laundering, says global watchdog
Austria is not doing enough to combat money laundering despite facing significant financial crime risks as a gateway to Eastern Europe, according to a report by the Financial Action Task Force. While some progress has been made since the last review a decade ago, gaps remain in risk understanding, enforcement, and resource allocation across authorities. The report highlights weaknesses in prosecution, low conviction rates, insufficient asset recovery, and calls for reforms within three years.
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Austria falling short in fight against money laundering, says global watchdogSign up now: Get ST's newsletters delivered to your inboxA general view of the city skyline in Vienna, Austria, April 16, 2025. REUTERS/Elisabeth MandlPublished Apr 30, 2026, 06:18 AMUpdated Apr 30, 2026, 06:23 AMListenVIENNA, April 30 - Austria continues to fall short in its investigation and prosecution of money laundering despite facing a range of illicit finance threats as a gateway to Eastern Europe, the global financial crime watchdog said in a report on Thursday.The Paris-based Financial Action Task Force found in the so-called mutual evaluation report, a review carried out by experts from other FATF countries, that while Austria had made some progress since its last such review 10 years ago, much still…
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