Money Laundering

Both money laundering and terrorist financing are punishable in Austria (Sections 165 and 278d StGB). Money laundering is the concealment of the illegal origin of proceeds from certain criminal activities, the so-called predicate offenses. Every financial center carries the risk of being misused for money laundering. The scope of terrorist financing is more difficult to define than money laundering. This refers to the provision of assets (including legal assets) to carry out a terrorist act. In line with the fight against terrorist financing, there are also international standards to combat proliferation financing, as the proliferation of weapons of mass destruction also poses a serious threat to international peace.