FATF Mutual Evaluation Report commends Austria’s AML/CFT framework while flagging weaknesses in BO transparency, enforcement and cross-border illicit finance controls

The report identifies weaknesses including insufficient resources and operational independence for the Financial Intelligence Unit, restrictive interpretations of money laundering offences, and low levels of corporate sanctions and asset confiscation. FATF also highlights inconsistent risk understanding across authorities and calls for stronger coordination, resourcing, and enforcement action to improve the effectiveness of Austria’s AML/CFT regime within the next three years…