Raiffeisen Bank unaware of money laundering allegations against former director

After SIPA members searched a facility in Sarajevo today on suspicion of money laundering and began searching for former Raiffeisen Bank director in BiH Karlheinz Dobnigg, the bank has also issued a statement.

A few weeks ago, we became aware of a potential conflict of interest involving Mr. Karlheinz Dobnigg. Upon establishing the conflict of interest, Mr. Dobnigg resigned from his position at the Bank on March 19, 2021, effective immediately. At that time, we were not aware of the money laundering allegations, the bank's statement reads.

SIPA previously confirmed that the searches and the search for Dobnigg were carried out within the framework of international legal assistance and cooperation activities with institutions in Austria and Germany. Simultaneously, an operation was launched in these two countries as well. The investigation relates to suspicions of financial crime and money laundering concerning the allocation of certain financial transfers and payments totaling approximately half a million euros.