Raiffeisen Bank International EUR 2.07 million AML sanction

Summary

The Austrian Financial Market Authority imposed a EUR 2.07 million fine on Raiffeisen Bank International AG in June 2024 for breaches of anti-money-laundering due-diligence obligations concerning two correspondent banking relationships with institutions in third countries. The FMA said RBI was unable to demonstrate the adequacy of AML/CFT checks performed by the respondent institutions. RBI appealed the penal order to the Federal Administrative Court. The FMA did not allege that actual money laundering or another criminal offence had occurred, so this record concerns the compliance breach itself and is marked unresolved while the appeal remains pending. Source: https://www.fma.gv.at/en/sanktion-gegen-raiffeisen-bank-international-ag/