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Money Laundering and Terrorist Financing

Money laundering and terrorist financing represent a significant threat for financial markets.

Money laundering is the practice of concealing the illegal origin of proceeds of crime (so called “predicate offenses”) by conducting a series of transactions. The money laundering process typically involves three stages:

• “placement”: cash proceeds from a crime are brought into a financial institution or used to purchase an asset;
• “layering”: several complex transactions disguise the source and ownership of the funds;
• “integration”: funds are re-integrated into the economic or financial system.

Terrorist financing involves the collection of funds - both from legal and illegal sources - and making them available for terrorist activities. In the course of investigations after attacks (such as the attacks from September 11) the paper trail behind financial transactions allowed to detect terrorist networks and the planning of terrorist attacks. Those efforts prevent the movement of funds for terrorist purposes and thus deprive terrorist organizations of assets.

• Austrian Policy
• EU Policy
• Asset Freezing
• International Fora

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