News

Austrian authorities received more suspicious transaction reports, also known as STRs, on possible instances of fraud last year than they did on attempts to launder money, and like their counterparts across Europe, are now hunting for countermeasures. All told, the number of STRs filed by banks, virtual asset service providers and other businesses and professions regulated for anti-money laundering purposes in Austria jumped 20 percent from 2022 to end at 7,600 submissions in 2023, the country's financial intelligence unit, A-FIU, disclosed in an annual report. But the quantity of STRs is less important than the crimes they flag, and financial...