FATF: CONFIDENTIALITY FAILINGS THREATEN REPORTING IN AUSTRIA
September 1st, 2016
A FINANCIAL Action Task Force (FATF) report on Austria has unveiled a major problem with confidentiality surrounding ‘suspicious transaction reports’ (STRs).
Based on a November 2015 visit, the September 12 mutual evaluation report on ‘Anti-money laundering and counter-terrorist financing measures – Austria’ noted that the Austrian financial intelligence unit (FIU) and other competent authorities cooperate well, swapping key information and financial intelligence. But, the FATF found, the competent authorities do not protect the confidentiality of the ...
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