Austria’s Financial Underbelly: A Look at the Types of Crimes and Investigations

Preventing Financial Crimes in Austria

In a country where the euro reigns supreme, Austria has implemented measures to prevent financial crimes from taking root. With cash payments and non-cash transactions being the norm, authorities have had to adapt to keep pace with evolving criminal tactics.

Types of Financial Crime in Austria

• Currency Counterfeiting: This offense is punishable by up to ten years imprisonment and is taken very seriously by law enforcement agencies.
  • If an individual unknowingly receives counterfeit currency and subsequently spends it without realizing its fake nature, they can face up to three years behind bars.

Investigations and Enforcement

• The Sub-Department for Fraud, Forgery and Economic Crime within Austria’s Criminal Intelligence Service is the central hub for investigating financial crimes related to counterfeiting.
  • This team works in tandem with provincial CIDs and police stations to handle all cases of currency counterfeiting committed within Austrian borders.
  • Specially trained police dogs are used to detect counterfeit notes.

International Cooperation

• In instances where the case has international implications, Europol is often brought into the fold. This cooperation allows for a more comprehensive approach to tackling financial crimes that know no borders.

Resources for Learning More

• The Oesterreichische Nationalbank website is an excellent resource for learning more about counterfeit currency in Austria.
  • With its vast knowledge and expertise, visitors can gain valuable insights into this complex issue.