FMA Fines NOTARTREUHANDBANK AG €127,500 for AML Failures

Austrian FMA News

Filed March 17th, 2026

Detected March 18th, 2026

Summary

The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 127,500 against NOTARTREUHANDBANK AG for breaches of anti-money laundering due diligence obligations. The bank failed to implement appropriate strategies and controls for ongoing monitoring of customer relationships and transaction checks.

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What changed

The Austrian Financial Market Authority (FMA) has issued a penal order imposing a fine of EUR 127,500 against NOTARTREUHANDBANK AG for violations of the Financial Markets Anti-Money Laundering Act (FM-GwG). Specifically, the bank failed to maintain adequate strategies, controls, and procedures for the ongoing monitoring of customer relationships, including checking transactions against customer knowledge, business activities, risk profiles, and the source of funds. The information was also not adequately determined in written form.

This enforcement action highlights the FMA's focus on robust AML due diligence. NOTARTREUHANDBANK AG must address these deficiencies to comply with regulatory requirements. As the penal order is not yet final, the bank may have grounds for appeal or further proceedings. Regulated entities should review their own AML monitoring and documentation practices to ensure compliance and avoid similar penalties.

What to do next

Review and update AML strategies, controls, and procedures for ongoing monitoring of customer relationships.
Ensure all customer information, including source of funds, is adequately determined and documented in writing.
Verify that transaction monitoring aligns with customer knowledge, business activities, and risk profiles.

Penalties

EUR 127,500

Source document (simplified)

Announcement: FMA imposes sanction against NOTARTREUHANDBANK AG for breaches of due diligence obligations for the prevention of money laundering and terrorist financing

March 2026

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- Sanction
The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 127,500 against NOTARTREUHANDBANK AG. The reason for the fine is due to breaches of the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäsche-Gesetz). NOTARTREUHANDBANK AG specifically did not have appropriate strategies, controls and procedures in place regarding due diligence for the ongoing monitoring of its business relationships with customers, including the checking of transactions conducted during the course of the business relationship, to ensure that they match the bank’s knowledge about the customer, its business activities, and risk profile as well as where necessary regarding the source of their funds that were commensurate to their size and activity, and such information was also not adequately determined in written form. The penal order is not final.

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