Austria's Financial Market Authority has imposed a financial penalty of €52,000 on Volksbank Niederösterreich AG for breaching its due diligence obligations under legislation designed to prevent money laundering and terrorist financing, after failing to have adequate policies and procedures to obtain and verify the origin of funds for incoming cash payments. The sanction, announced on 23 October 2025, was levied under Austria's Financial Markets Anti-Money Laundering Act (FM-GwG).
Volksbank Niederösterreich AG is a cooperative regional bank serving customers in the Lower Austria region.
ACTION TAKEN UNDER FM-GwG FRAMEWORK
The FMA's action was taken under the Financial Markets Anti-Money Laundering Act, the principal piece of domestic legislation through which Austria transposes EU anti-money laundering directives into national law.
The penal order, issued in accelerated proceedings under Article 22 para. 2b of the FMA Act (FMABG), is final.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn