Featured Austria

North Koreans Accused of Laundering $2.5 Billion for Nuclear Program

North Korean and Chinese citizens are operating a multibillion-dollar money laundering scheme to help fund the North’s nuclear weapons program, the Justice Department said in an indictment unsealed on Thursday. The case underscores the Trump administration’s inability to halt Pyongyang’s nuclear weapons program through diplomacy. The department charged 28… Read More

Biomin America Fined for Alleged Sanctions Violations

The U.S. division of a global maker of animal feed additives reached a settlement with the Treasury Department over possible sanctions violations—a case that underscores the importance of maintaining a compliance program and seeking guidance from regulators. Biomin America, which agreed to pay about $258,000 in the settlement, and its… Read More

Latvia uncovers alleged international plastic granule money laundering scheme

Criminal proceedings have been brought against a group of persons who are accused of attempting to legalize more than seven million euros of illicit funds using several companies and shady transactions, according to the State Revenue Service (VID) on April 9. The proceedings include a pre-trial investigation of the… Read More
9th April 2020
An international crime ring that conned hundreds of people out of millions of pounds has been broken up in police raids across Bulgaria and Serbia. Nine people were arrested in an operation co-ordinated by Europol and conducted by police in the two countries, as well as in Germany and Austria. Read More
24th January 2020
They made quite a team. One was an Oxford-educated wunderkind who handled the complicated math behind the transactions. The other was a beefy, 6-foot-2 New Zealander with an apparent fondness for Hawaiian shirts, who brought in clients and money. Martin Shields and Paul Mora met in 2004, at the London… Read More
24th January 2020
Although a criminal complaint implicating Austrian banks in money laundering was filed in February 2019, authorities in Vienna never launched an official investigation into the allegations that mainly target Raiffeisen Bank International, the Austrian weekly news magazine profil said on Monday. The complaint was brought forward by investment fund… Read More
14th January 2020
By Anuška Delić, Mašenjka Bačić (Oštro.si) and Dmitry Velikovsky, OCCRP, 13 January 2020 OCCRP—Family members and close associates of Mihajlo Perenčević, a wealthy Croatian businessman with ties to Russian President Vladimir Putin, received millions of dollars from Russia under the guise of fictitious real estate purchases. The funds were… Read More
30th December 2019
A group of international investors managing trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The writ, which was filed on Friday in the District Court… Read More
22nd November 2019
The General Court of the European Union on Wednesday gave a reprieve to Austria’s former Meinl Bank (now called Anglo Austrian Bank), allowing it to keep its banking license pending further court action. Last week the European Central Bank withdrew Anglo Austrian’s license. The bank immediately said it would take… Read More
19th November 2019
For years, banks in three Eastern European countries were stripped of assets by their owners using a blunt but efficient scheme made possible by Meinl Bank, a venerable Austrian financial institution that lost its license last week. Hundreds of millions of euros were siphoned out of Ukraine, Latvia and Lithuania,… Read More
19th November 2019
The European Central Bank (ECB) has terminated the license of Anglo-Austrian Bank, better known as Bank Meinl, amid allegations of anti-money laundering (AML) compliance failures, the Financial Times reported Friday. The ECB’s decision, first disclosed by Austria’s financial regulator, follows an institutional decision to exit the banking sector, the… Read More
6th August 2019
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
26th June 2019
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