Austria FMA Fines Bitcoin ATM Firm Kurant €45,000 Over AML/CFT Due Diligence Failures
Austria’s Financial Market Authority (FMA) has imposed an additional €45,000 fine on Kurant GmbH for breaches of the country’s Financial Markets Anti-Money Laundering Act (FM-GwG), adding another enforcement action against the Vienna-based Bitcoin ATM company.
The FMA said the latest sanction concerns weaknesses in Kurant’s policies and procedures for applying customer due diligence when conducting occasional transactions and in situations where there is suspicion, or reasonable grounds to believe, that a customer belongs to a terrorist organisation or is objectively involved in transactions serving money laundering or terrorist-financing purposes.
The proceedings were concluded under the accelerated procedure provided by Section 22(2b) of the Financial Market Authority Act. The FMA confirmed that the penal order is final.
Second AML-related FMA sanction against Kurant
The €45,000 penalty follows a separate final FMA sanction announced in October 2025, when Kurant was fined €70,000 for deficiencies under the same FM-GwG framework. In that earlier case, the regulator found that the company’s policies and procedures for ensuring ongoing monitoring of customer business relationships had not been documented in writing.
Kurant was founded in 2017 and has operated Bitcoin ATM networks in Austria and other European markets. Its own website states that it has been involved with around 300 ATM locations across Austria, Germany and Spain. Since May 2026, transaction operations at Austrian ATMs have been carried out by MiCAR-authorised FINTECH SK s.r.o., while Kurant remains involved as the owner of the ATMs and as a partner.
The latest case is notable because the deficiencies identified by the FMA concern risk-triggered CDD controls rather than only routine customer identification. For crypto-asset businesses handling cash-to-crypto transactions, procedures covering occasional transactions, suspicious circumstances and potential terrorist-financing indicators remain a core part of effective AML/CFT controls.
