Flag

Austria Country Summary

Sanctions

No

FATF AML Deficient List

No

Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center

Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.

If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.

Anti Money Laundering

FATF Status

Austria is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest Follow-up Report & Technical Compliance Re-Rating was completed in November 2018.  According to that Evaluation, Austria was deemed Compliant for 18 and Largely Compliant for 18 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 3 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Sanctions

There are no international sanctions currently in force against this country

Bribery & Corruption

Rating 0 (bad) - 100 (good)
Transparency International Corruption Index 71
World Bank: Control of Corruption Percentile Rank 85

Austria has made significant strides in combating corruption, being a member of various international anti-corruption agreements and implementing a national strategy focused on transparency and awareness. Despite ranking 20th in Transparency International's Corruption Perceptions Index, recent scandals involving high-profile politicians have undermined public trust in the political system. While bribery is criminalized and anti-corruption laws are generally enforced, investigations can be slow, and there remains a small risk of corruption in public procurement.

Economy

Austria has a well-developed market economy characterized by a significant reliance on exports, which account for over 50% of its GDP, with Germany being its largest trading partner. Despite its strong industrial and service sectors, the economy faced a recession in 2023, marked by a -0.8% growth rate due to declining manufacturing and exports, high energy prices, and inflation that exceeded the Eurozone average.

Austria's investment climate is characterized by a welcoming attitude towards foreign direct investment, particularly in technology and R&D sectors, supported by political stability and high-quality infrastructure. However, challenges such as high labor costs, inflation, and a complex regulatory environment may deter potential investors. Despite these hurdles, Austria remains an attractive destination for investment, particularly in the automotive, pharmaceutical, and ICT sectors, with significant U.S. investment contributing to job creation.

Floating Section Image

Buy Full Austria Report


$125 one time payment
The full report features:
  • Risk Analysis
  • Corruption
  • Economy
  • Sanctions
  • Narcotics
  • Executive Summaries
  • Investment Climates
  • FATF Status
  • Compliance
  • Key Findings
Buy Full Report