FOR YEARS, BANKS IN 3 EASTERN EUROPEAN COUNTRIES WERE STRIPPED OF ASSETS BY THEIR OWNERS

On 19th November, KYC 360 reported an OCCRP/ORF investigation about a scheme reportedly made possible by Meinl Bank (now called Anglo Austrian AAB Bank AG), a venerable Austrian financial institution that has lost its licence.  Ukraine, Latvia and Lithuania were affected.  Authorities in 4 countries have confirmed criminal investigations of operations facilitated by Meinl, and the investigation by OCCRP and its partners found evidence that Meinl helped bankers in Ukraine, Lithuania and Latvia bypass regulations and bans, shifting vast amounts of money out of their banks just before their collapse.

https://www.riskscreen.com/kyc360/news/the-vienna-bank-job/

https://www.occrp.org/en/the-austrian-bank-job/the-vienna-bank-job

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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