Austria’s FMA fines Notartreuhandbank AG €127,500 for serious AML failings, citing weak controls, poor client monitoring, and inadequate fund documentation

The FMA found that the bank failed to properly assess and mitigate risks associated with certain accounts, undermining transparency and compliance with the Financial Markets Anti‑Money Laundering Act. The penalty underscores the regulator’s commitment to enforcing robust AML frameworks, while highlighting the reputational and operational consequences for institutions that neglect risk-based due diligence, though the bank retains the right to appeal….