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.

Austria has made significant strides in combating corruption, ranking 20th in Transparency International's Corruption Perceptions Index, though it has faced challenges due to high-profile scandals involving political figures. The country has implemented a national anti-corruption strategy and established legal frameworks to address bribery and conflicts of interest, yet investigations often proceed slowly. Despite these issues, corruption is not seen as a major barrier to business, and U.S. companies have reported no significant corruption-related obstacles to foreign direct investment.

Austria has a well-developed market economy characterized by political stability and a high standard of living, with over 50% of its GDP coming from exports, particularly to Germany. However, the economy faced a recession in 2023, marked by a -0.8% growth rate due to a slowdown in manufacturing and exports, high energy prices, and inflation, which was notably above 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, a complex regulatory environment, and inflationary pressures may hinder competitiveness. Despite these challenges, Austria remains an attractive destination for U.S. investments, with significant contributions from American companies across various sectors.