Raiffeisen fined €2m in Austria over flawed AML on correspondent banks

Austria's Financial Market Authority has imposed a record €2 million (US$2.14 million) penalty on Raiffeisen Bank International for anti-money laundering failings in two of its correspondent banking relationships, according to Reuters.

Austria's Financial Market Authority has imposed a record €2 million (US$2.14 million) penalty on Raiffeisen Bank International for anti-money laundering failings in two of its correspondent banking relationships, according to Reuters. [1]