February 22, 2024 BY Simon Mugo
Raiffeisen, an Austrian Bank, Is Being Probed for Money Laundering
The investigation focuses on adherence to the critical "know-your-customer" (KYC) regulations, which serve as a fundamental measure against money laundering activities. This development occurs amidst additional investigations by the United States Treasury Department's Office of Foreign Assets Control (OFAC), making Raiffeisen, the leading Western bank operating in Russia, a subject of international regulatory attention. According…
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