Featured Austria

Austrian court upholds 2.75 mln euro fine against Raiffeisen

An Austrian administrative court has rejected Raiffeisen Bank International’s challenge against a 2.75 million euro ($3.1 million) fine over insufficient anti-money-laundering checks, the bank said on Monday. Austria’s Financial Market Authority imposed the fine last year here over a breach of RBI’s due diligence requirements for the prevention of… Read More

Top Austrian court says Ukrainian oligarch can be sent to US

AP — Austria’s Supreme Court of Justice ruled Tuesday that a Ukrainian oligarch who prosecutors say had business ties to President Donald Trump’s ex-campaign manager, Paul Manafort, can be extradited to the United States in a bribery case. Judges upheld a Vienna court’s ruling that Dymitro Firtash, who was arrested… Read More

UniCredit to Pay $1.3 Billion, Plead Guilty to US Sanctions Violations

A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More
21st June 2018
Police have nabbed scores of individuals they believe are partly responsible for over 20,000 fraudulent transactions worth over EUR8 million. The fraud was conducted by professional fraudsters, skilled in e-commerce fraud, who set up fake online shops and bought and sold credit card data on the dark web, said Europol. Read More
4th June 2018
Austria’s vice chancellor and leader of the country’s far-right Freedom Party called for ending the European Union’s sanctions against Russia, days before he meets Russian President Vladimir Putin during a trip to Vienna. Heinz-Christian Strache, whose pro-Moscow party is junior partner to Chancellor Sebastian Kurz’s conservatives, has said in… Read More
17th April 2018
The European Union failed to agree new sanctions against Iran on Monday amid Italy’s opposition and fears that punishing Tehran for its missile program and regional role would not stop U.S. President Donald Trump from abandoning a separate nuclear deal. Speaking on the sidelines of EU foreign ministers’ discussions in… Read More
8th April 2018
Raiffeisen Bank International AG (RBI) has been fined 2.75 million euros ($3.39 million) by Austria’s Financial Market Authority (FMA) for a breach of due diligence requirements for the prevention of money laundering and terrorist financing. The bank had been under investigation by FMA since 2016 after its name was mentioned… Read More
31st July 2017
Austria has said that pushing forward European and international measures to prevent profit shifting and international tax fraud will be a top priority for its presidency of the European Council in the second half of 2018. “The cross-border fight against tax fraud and tax avoidance is a top priority for… Read More
16th June 2017
Germany and Austria voiced sharp criticism Thursday of the latest U.S. sanctions against Moscow, saying they could affect European businesses involved in piping in Russian natural gas. The United States Senate voted Wednesday to slap new sanctions on key sectors of Russia’s economy and individuals over its interference in the… Read More
24th February 2017
Austrian Chancellor Christian Kern called for a rethink on sanctions imposed on Russia, saying that the regime of penalties over Kremlin-backed incursions in Ukraine has failed to yield enough progress. Read More
16th February 2017
Corruption in government – from conflict of interest and trading in influence, to graft and bribes – is nothing new. But measures taken to effectively fight it are. We published a report this month, for example, which pointed out that in spite of the commendable progress made in recent years… Read More
16th November 2016
After India's Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) has now registered a money laundering case to probe the alleged payment of USD 5.7 million kickbacks in the 2008 Embraer aircraft deal. Read More
21st July 2016
Austria’s Justice Ministry is expected to announce corruption charges against the country’s former Finance Minister Karl-Heinz Grasser later today following a seven year investigation. Read More