Raiffeisen Bank Due Diligence ⚠️ Major & significant international legal issues, regulatory actions, criminal cases, lawsuits & customer complaints. Full info ℹ️ Below ⬇️
- The DigitalBank Vault
- 21 hours ago
- 4 min read
Here’s a comprehensive overview of significant legal issues, regulatory actions, customer complaints, and reputational challenges associated with Raiffeisen Bank International AG (RBI), focusing on developments from 2019 to 2025
🏛️ Major Legal and Regulatory Actions
1.
Russian Legal Challenges and Financial Penalties
€2 Billion Court Ruling (2025): A Russian court ordered RBI to pay €2 billion in damages related to a failed asset swap involving Rasperia, a company linked to sanctioned oligarch Oleg Deripaska. The proceedings were marked by intimidation tactics, including the presence of armed individuals in the courtroom.
Blocked Sale of Russian Subsidiary: Efforts by RBI to divest its Russian operations were thwarted when a Russian court issued an injunction preventing the sale of its local subsidiary, AO Raiffeisenbank. This move complicated RBI’s plans to exit the Russian market amid geopolitical tensions.
2.
Anti-Money Laundering (AML) Compliance Issues
Austrian FMA Fine (2024): The Austrian Financial Market Authority (FMA) imposed a €2.07 million fine on RBI for insufficient due diligence in correspondent banking relationships, particularly concerning AML and counter-terrorist financing obligations. RBI has appealed the decision, disputing the FMA’s interpretation.
Previous AML Fine Annulled (2019): An earlier €2.7 million fine levied by the FMA in 2018 for AML deficiencies was annulled by Austria’s Supreme Administrative Court in 2019, citing procedural issues.
3.
Data Privacy Violations
GDPR Breach in Romania (2019): RBI’s Romanian subsidiary was fined €150,000 for unauthorized access to personal data. Employees conducted credit eligibility checks using personal information obtained via WhatsApp without proper consent, affecting over 1,100 individuals.
4.
Consumer Protection and Interest Rate Manipulation
Fine for Unfair Practices (2021): Romania’s National Authority for Consumer Protection fined RBI approximately €20,000 for unilaterally increasing interest rates on restructured loans, impacting around 14,000 customers. The bank was also ordered to refund the overcharged amounts, estimated at over €10 million.
5.
Corporate Governance Failures
FINMA Findings (2018): Switzerland’s Financial Market Supervisory Authority (FINMA) identified significant corporate governance shortcomings at Raiffeisen Switzerland, including inadequate conflict-of-interest management and insufficient oversight of the former CEO, potentially leading to personal financial gains at the bank’s expense.
📊 Financial and Operational Impact
Profit Decline Due to Legal Provisions: In early 2025, RBI reported a more than 50% drop in annual profits, primarily due to provisions set aside for the Russian court ruling (€840 million) and losses from the sale of its Belarusian operations (€824 million).
Regulatory Fines Across Jurisdictions: Since 2010, RBI has incurred over $24 million in penalties across various countries, including Poland, Romania, Hungary, and Austria, for offenses ranging from financial violations to consumer protection breaches.
👥 Customer Complaints and Service Issues
Account Access Difficulties: Customers have reported challenges in accessing their accounts, especially when contact information is outdated. Instances include elderly clients being unable to obtain account information without visiting a branch in person, even when presenting notarized documents.
Bureaucratic Procedures: Clients have expressed frustration over outdated processes, such as the requirement to physically visit a branch or provide a power of attorney to close accounts, reflecting a lack of modernization in customer service.
📰 Summary
Raiffeisen Bank International AG has faced a series of legal and regulatory challenges over recent years, including substantial fines for AML compliance failures, data privacy breaches, and unfair consumer practices. The bank’s entanglement in geopolitical issues, particularly in Russia, has led to significant financial penalties and operational hurdles. Additionally, customer feedback highlights persistent issues with service accessibility and outdated procedures.
If you require further details or assistance with specific aspects of RBI’s operations, please let me know.
Disclaimer: This simulated assessment did not access live systems. Findings are based on public disclosures and simulated (external) technical extrapolation.
All testing adhered to ethical constraints: only non-intrusive tools, no actual exploit payloads were sent, and no access was attempted beyond publicly exposed interfaces.
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