Integrity risk control and sound business operations on credit institutions, insurance companies, money transfer companies, trust service providers and company pension funds

Integrity supervision is geared towards controlling the integrity risks and the promoting of sound business operations at financial institutions. Sound business operations comprises the prevention of involvement in criminal activities (including, but not limited to, money laundering and terrorist financing) and other breaches of the law or acting contrary to the generally accepted standards. In addition, it enhances the promotion of ethical behavior and an ethical corporate culture and the prevention of conflicts of interests. Integrity supervision is grounded in the various sectoral supervisory state ordinances and related regulations and directives.

In addition, credit institutions, life insurance companies, money transfer companies, trust service providers must also comply with the State Ordinance on the Prevention and Combating Money Laundering and Terrorist Financing (AML/CFT State Ordinance) and the financial sanctions regulations.

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