Investment Scams in Austria: How to Check a Provider in 2026

Many investment offers circulate online, including offers from companies that are not authorised to operate in Austria. Before sending money, you can check the provider using three free online tools provided by the FMA. Each tool serves a different purpose.

What is an investor warning (Investorenwarnung)?

The FMA may publicly warn that a named person or company is offering certain financial services without authorisation (Konzession). These warnings appear on the FMA website’s homepage and can also be read in the electronic official gazette (EVI).

A warning is issued after an investigation when there is a suspicion that someone is providing financial services without supervision or the necessary authorisation. This is especially useful when a provider is difficult to trace, for example because it has no registered office in Austria, or when investors face an immediate risk.

How to search the warnings

• Filter the list by publication year.
• Sort by date or title in ascending or descending order.
• Enter the provider’s name in the “Suchen” field.
• Use “Liste aktualisieren” to apply the filters and “Zurücksetzen” to restore the default view.
• Select “Mehr lesen” to view the details.

Important: If a company has not received a warning, this does not automatically mean that it is trustworthy. You should also check the company database.

Company database: is the company authorised in Austria?

The FMA company database (Unternehmensdatenbank) contains all authorised companies, including banks, insurers and investment firms. Only companies listed there are authorised to provide certain financial services, and only these companies are supervised by the FMA.

Providers and trading platforms that are not authorised to operate in Austria often advertise online. If an offer seems suspicious or unusually attractive, checking the authorisation should be the first step.

You can search by name, location, bank identification number (Bankleitzahl) and company type (Kategorie). After selecting a result, you can view its category and address. The “Druckansicht” button allows you to print the information.

The database includes, among others:

• banks, insurers and pension funds (Pensionskassen)
• investment fund managers (Kapitalanlagegesellschaften) and real estate fund managers
• severance funds (Betriebliche Vorsorgekassen)
• payment institutions and electronic money institutions (Zahlungsinstitute, E-Geld-Institute)
• investment firms and securities service providers
• alternative investment fund managers and stock exchange companies

The database is carefully and continuously updated, but no guarantee is given for its accuracy or completeness.

Intermediary search: who is contacting you?

In many cases, it is not the company itself but an intermediary who contacts you. The FMA intermediary search (Vermittlerabfrage) lets you check whether the person is a registered investment services intermediary (Wertpapiervermittler, WPV) or a tied agent (Vertraglich gebundener Vermittler, VGV), and which company they may work for. These intermediaries may operate only if they are listed in the FMA register.

When searching, enter the surname exactly. For the first name, the beginning is sufficient. For a company name, the first two letters are enough. Then select “Abfrage ausführen”.

You should also check the trade information system (Gewerbeinformationssystem) to see whether the intermediary has a trade licence (Gewerbeberechtigung).

What is the difference between the two types of intermediary?

• Tied agent (VGV): may be a legal or natural person, may work for one company only, and may work for a bank, investment firm or securities service provider. A VGV may offer all financial instruments of that company.
• Investment services intermediary (WPV): may only be a natural person, may work for no more than three companies, and may work for an investment firm or securities service provider, but not for a bank or insurer. A WPV may offer only transferable securities, investment funds and real estate funds.
• Supervisory training: both types must complete 15 hours per year.

A tied agent cannot also be an investment services intermediary.

What should you receive during proper investment advice?

An adviser must carefully assess your financial situation and discuss your investment objectives and willingness to take risks. You must be informed about all risks and costs, and the information provided must be complete, understandable and accurate.

Private customers (Privatkunden) receive the full protection of the Securities Supervision Act (Wertpapieraufsichtsgesetz, WAG). This includes:

• banks and providers must check for every transaction whether it is suitable and appropriate for the customer;
• each product must have a defined target market;
• customers must be informed about costs and additional costs;
• customers must receive an annual summary of all fees incurred.

An offer that sounds too good to be true is usually not true. High returns with low risk are not economically possible.

Frequently asked questions

Are the FMA databases free to use?

All three tools—the warnings, the company database and the intermediary search—are publicly available online services on the FMA website.

If there is no warning about a company, is it trustworthy?

Not necessarily. The absence of a warning is not a guarantee, so you should also verify the company’s authorisation in the company database.

Where can I learn more about financial basics?

Since the beginning of 2021, the FMA has published the educational series “Reden wir über Geld”. It covers topics ranging from investing and loans to recognising financial fraudsters.

Can an investment services intermediary work for any bank?

No. An investment services intermediary (WPV) cannot work for a credit institution or insurer. A tied agent (VGV), however, may work for banks.

Practical steps before sending money

1. Search the provider’s name in the FMA investor warnings (Investorenwarnungen).
2. Check the exact company name in the FMA company database (Unternehmensdatenbank).
3. Confirm that the financial service and the company’s category match the offer you received.
4. If an individual contacted you, search for them in the intermediary search (Vermittlerabfrage).
5. Check the intermediary’s trade licence in the trade information system (Gewerbeinformationssystem).
6. Ask for clear information about risks, costs, suitability and the product’s target market.
7. Do not send money solely because there is no investor warning or because a return is presented as low-risk.

This article is based on information available online and does not constitute advice. Use it at your own risk. If you need specialist advice, consult a lawyer, legal professional or another relevant specialist.

Source: oesterreich.gv.at