Money laundering - notification of the authority

General information

In terms of precautionary action to prevent, as far as reasonably practicable, any attempt at money laundering or terrorist financing on the one hand, and to facilitate the tracking down of criminals and their networks on the other, the existing provisions of criminal law are supplemented by regulations which actively involve the participants of the economic and financial circuit in the fight against money laundering and terrorist financing.

Traders pursuant to section 365m paragraph 3 of the Gewerbeordnung 1994 (GewO 1994) are obliged to inform the national Financial Intelligence Unit of any suspicion of money laundering or terrorist financing.

The provisions of the Gewerbeordnung place a strong emphasis on the "know your customer principle" designed to remove the benefit of anonymity behind which offenders may hide. Due diligence thus includes, inter alia, the following obligations:

  • Identification of the customer as well as of the beneficial owner
  • Ongoing monitoring of the business relationship
  • Retention of records


No special deadlines need be observed.

Legal basis

Sections 365m and following of the Gewerbeordnung 1994 (GewO 1994)


See Description of contents.

Responsible department

The Financial Intelligence Unit (Geldwäschemeldestelle) of the Bundesministerium für Inneres.

Further Information and Online-Form

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PSC Vienna
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