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
16th April 2019
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