Austria : Publication of Financial Sector Assessment Program Documentation-Technical Note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

This Technical Note sets out the findings and recommendations made in the context of the 2019 Financial Sector Assessment Program for Austria in the areas of Anti-Money Laundering/Combating the Financing of Terrorism. It provides a targeted review of Austria's progress in addressing the Money L...

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Ente Autore: International Monetary Fund. Monetary and Capital Markets Department
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2020.
Serie:IMF Staff Country Reports; Country Report ; No. 2020/065
Accesso online:Full text available on IMF
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110 2 |a International Monetary Fund.  |b Monetary and Capital Markets Department. 
245 1 0 |a Austria :   |b Publication of Financial Sector Assessment Program Documentation-Technical Note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2020. 
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490 1 |a IMF Staff Country Reports 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a This Technical Note sets out the findings and recommendations made in the context of the 2019 Financial Sector Assessment Program for Austria in the areas of Anti-Money Laundering/Combating the Financing of Terrorism. It provides a targeted review of Austria's progress in addressing the Money Laundering/Terrorism Financing vulnerabilities. Several initiatives, the amendments introduced to the Financial Markets Anti-Money Laundering Act, the Beneficial Owners Register Act, and other sectoral laws have led to significant enhancements of the legal and regulatory framework which resulted in a number of upgrades on technical compliance ratings by the Financial Action Task Force in the context of the two follow-up reports. The authorities took steps to transpose the Fourth and the Fifth Anti-Money Laundering Directives into national legislation. Steps have been taken to improve the legal and regulatory framework that applies to lawyers, notaries and tax advisors, and other Designated Non-Financial Business and Professions, but there is room for enhancing implementation. The authorities have recently adopted a comprehensive set of reforms to enhance entity transparency, including through the establishment of a Register of Beneficial Ownership. 
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830 0 |a IMF Staff Country Reports; Country Report ;  |v No. 2020/065 
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