Amendment of the Regulation on Money Laundering and Terrorist Financing Risk (Geldwäscherei- und Terrorismusfinanzierungsrisiko-Verordnung – GTV)

The Anti-Money Laundering Measures and Financing regulation crafted by the Austrian Financial Market Authority was revised again with the public announcement of the Federal Law Gazette II 107/2015  on the 15th of May 2015. Indonesia was dropped of the Financial Action Task Force (FATF) black list. The § 2 Abs 2 Regulation was revised accordingly.

This amendment excludes Indonesia from the group of states known for “showing a higher risk of money laundering or financing of terrorism”.

The § 2 Abs 2 GTV is worded as follows:

„(2) Countries, where an increased risk of money laundering or terrorist financing exists in any case, are

1.Islamic Republic of Iran,

1. Democratic People’s Republic of Korea,

3. People’s Republic of Algeria,

4.Republik of Ecuador,

1. Republik of the Union of Myanmar,
2. Federal Republic of Somalia und

7.Syrian Arab Republic.“

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