IMCG 4.0 GmbH is subject to and fully committed to the strict Austrian regulations on money laundering and combating terrorism. (§§ 165 and 278d StGB). Money laundering is the concealing of the illegal origin of proceeds from certain criminal activities, the so-called predicate offences. Every financial center carries the risk of being misused for money laundering. Determining the extent of terrorist financing is more difficult than money laundering. This means the provision of (including legal) assets to carry out a terrorist act. Based on the fight against the financing of terrorism, there are international standards for combating the financing of proliferation, since the spread (proliferation) of weapons of mass destruction also poses a serious threat to international peace.

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Explanation:

With the implementation of Directive 2015/849/EU (4th Money Laundering Directive) in Austria, the regulations for preventing the use of the financial system for the purpose of money laundering and terrorist financing for credit and financial institutions were first set out in a law, the Financial Markets Money Laundering Act (FM -GwG), which gives the financial market supervisory authority a uniform and clear legal basis for its supervisory activities. These regulations were supplemented by the implementation of Directive 2018/843/EU (5th Money Laundering Directive). There are also provisions in the trade regulations, the gambling law and the lawyers' and notaries' regulations, among others. These regulations place great emphasis on the "know your customer" principle, which is intended to deprive money launderers of the benefit of anonymity.

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In Austria, every customer who:

• enters into an ongoing business relationship with a credit or financial institution, a service provider in relation to virtual currencies or another party obliged to comply with the provisions on the prevention of money laundering and the financing of terrorism (in the classic case opening an account)

• carries out a transaction worth at least EUR 15,000 or a money transfer of more than EUR 1,000 that does not fall within the framework of an ongoing business relationship

• makes a deposit into or a withdrawal from savings deposits if the amount to be deposited or withdrawn is at least EUR 15,000

• raises suspicions of money laundering or terrorist financing or if there are doubts about the identification data already received

Identification is by means of an official photo ID. If the customer is a minor, the authorization to represent and the identity of the natural person represented must be proven in addition to their own identity. If the customer is a legal entity, not only the power of representation and the identity of the natural person representing must be proven, but the existence of the legal entity and the beneficial owners must also be verified. In the case of legal entities domiciled in Germany, inspection of the register of beneficial owners at the Federal Ministry of Finance is also mandatory. If there is a trust relationship, the identity of the trustor must be disclosed by the customer and verified as part of the duty of care.

If there is a suspicion of money laundering or terrorist financing, a report must be made to the Austrian Money Laundering Reporting Office in the Federal Ministry of the interior.