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Austrian Lotteries’ sales turnover grew at its fastest rate in a decade in 2018 following the opening of its first video lottery terminal halls in capital city Vienna, while a promised crackdown on unlicensed gambling operations has yet to be formalised in law.
On April 12, 2019, the Federal Ministry of Finance (Bundesministerim Finanzen - BMF) introduced a draft law titled “Federal Law amending the Financial Markets Money Laundering Act, the Beneficial Ownership Register Act, the Account Register and Account Entry Act and the Gambling Act (Financial Market – Money Laundering Act)”, seeking feedback on the changes it proposes to introduce.
The draft law transposing into the national legal order the provisions of the 5th Anti-Money Laundering Directive (5th AMLD) serves two purposes: