UPDATE 1-Regulator probes money laundering controls at Austria's Raiffeisen
Published on: Wednesday 21 February 2024
Austria's financial regulator FMA has been investigating Raiffeisen Bank International over anti-money-laundering failures, the Austrian bank said on Thursday in its annual report. The investigation is focused on the so-called know-your-customer rules, the bank said, referring to a key safety guard to prevent money laundering. It comes as the group, the largest Western bank in Russia, is also under investigation by the United States' sanctions authority - the Treasury Department's Office of Foreign Assets Control.
