By Francois Murphy
AUSTRIA continues to fall short in its investigation and prosecution of money laundering despite facing a range of illicit finance threats as a gateway to Eastern Europe, the FATF (Financial Action Task Force) has found.
The Paris-based body, which sets global AML stanards found in the so-called mutual evaluation report, a review carried out by experts from other FATF countries, that while Austria had made some progress since its last such review 10 years ago, much still needed to be done.
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