Austria’s Financial Institutions to Receive Expert Training in Anti-Fraud Measures

Enhancing Anti-Money Laundering and Combating the Financing of Terrorism Framework

Austria’s financial institutions are set to receive comprehensive training in risk-based supervision to enhance their anti-money laundering (AML) and combating the financing of terrorism (CFT) framework. The initiative aims to equip officials from key government bodies, central banks, and supervisory agencies with the expertise needed to effectively monitor and regulate financial institutions.

Target Audience

The intensive training program is designed specifically for officials who have a minimum of three to five years’ experience in implementing AML/CFT risk-based supervision measures. Participants are expected to possess a strong understanding of the legal and regulatory framework governing AML/CFT supervision, as well as access to a computer with a reliable internet connection.

Course Objectives

Upon completion of the course, participants will be equipped with the skills necessary to:

• Identify higher-risk areas within financial institutions
• Develop effective risk-based supervisory methodologies
• Allocate resources accordingly
• Formulate appropriate supervisory strategies, plans, and approaches based on the results of risk assessments

Benefits

The training initiative is expected to provide officials with the expertise needed to maintain a robust AML/CFT framework, ultimately safeguarding the integrity of Austria’s financial system. The enhanced training will also help combat financial crime and maintain confidence in the country’s financial institutions.

By receiving expert training in anti-fraud measures, Austria’s financial institutions will be better equipped to prevent and detect money laundering and terrorist financing activities, ensuring a safer and more stable financial environment for all stakeholders.