FATF-Prüfungsanpassungsgesetz 2024

This law adjusts existing legislation to meet the requirements of the Financial Action Task Force (FATF) for combating money laundering and terrorist financing. It aims to strengthen Austria's financial system's integrity and international cooperation. The adjustments will affect financial institutions, reporting entities, and law enforcement agencies. It ensures Austria's compliance with international standards, safeguarding the financial sector from illicit activities.