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Serbia Faces Political Crisis

After severe allegations against Prime Minister Ivica Dacic, the Serbian governing socialists reject to hold new elections. The coalition partner still supports Dacic.

February 4, 2013

Vienna Airport Customs Office: Number of Seizures Was Up Significantly

"The Vienna Airport customs office’s annual announcement of its performance statistics once again confirms the outstanding work of Austria’s customs officials." the Austrian Ministry of Finance says.

January 21, 2013

Austria: Corruption Is Costing Taxpayers € 17bn

A report issued by OECD analyzes the economic costs of corruption. In case of Austria, the damage totals about 5% of the GDP.

January 18, 2013

Slovenia: Jansa Receives Support

Slovenian Prime Minister Janez Jansa receives support from his party SDS. The government crisis continues, though.

January 10, 2013

Slovenia: Government in Crisis

After severe allegations of corruption, Slovenia´s government is under pressure.

January 9, 2013

Austria: Black Labor Decreases

Since 2004, the size of black labor is declining in Austria. Nine years ago, the share of GDP came at 11%: In 2012, black labor was 7.5% of GDP.

January 8, 2013

OECD Criticizes Austria´s Anti-Corruption Policy

Austria’s enforcement of foreign bribery laws far too weak, but could pick up soon says OECD.

January 8, 2013

EU Calls Bulgaria to Intensify Fight Against Corruption

The European Union recommends Bulgaria and Romania to increase their effort regarding the fight against organized crime and corruption.

September 25, 2012

Austria: Corruption on the Rise

Corruption causes damages of € 26bn in Austria. According to a study, 11% of the Austrian interviewees felt affected by corruption.

September 24, 2012

Austrian Enterprises Complain About High Costs of Corruption

According to a study by Transparency International, about 20% of the interviewed enterprises feel affected by corruption.

September 10, 2012

NKBM Suspected of Money Laudnering

The second-largest Slovenian bank does not only face financial problems. NKBM´s management is alleged to have practiced money laundering activities.

August 23, 2012

Proceedings Against Bulgarian Subsidiary of OMV Stopped

The Bulgarian Competition Authority KZK stopped investigations against OMV Bulgaria, Rompetrol, Lukoil and Naftex Petrol. The companies were suspected of price fixing.

August 1, 2012

CESEE: Still High Degree of Corruption

According to Transparency International, „political influence over independent institutions is a systemic corruption risk in the Czech Republic, Hungary, Poland and Slovakia“.

July 31, 2012

Railway Cartel: € 8.5m Fine for voestalpine

The steel group participated in a railway cartel in Germany. The cartel proceedings are finished now.

July 5, 2012

New IV´s President Dissatisfied with Political System

The corruption scandals oft he past would damage Austria´s reputation as business location, Georg Kapsch thinks.

June 23, 2012

Second Bawag Process Starts

In June, the former investment fund manager Wolfgang Flöttl will face retrial of Austria´s biggest criminal process.

April 25, 2012

Former Bawag CEO Criticizes Cerberus Sharply

Helmut Elsner, former CEO of Bawag, accuses the new owner Cerberus to abuse the bank as “garbage dump” for toxic assets.

April 18, 2012

Tax Deal Fiercely Criticized

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.

April 16, 2012

Eder Ticks Off Rail Cartel

Voestalpine´s CEO Wolfgang Eder underlines the new compliance rules of voestalpine. Another participation in a cartel would be “impossible”.

April 7, 2012

Bulgaria: Massive Penalty at OMV Subsidiary Threatens

Bulgaria´s Minister of Transport claims the maximum penalty for OMV´s subsidiary, which would reach up to € 1.0bn.

March 24, 2012

Windtec: Espionage Scandal Does Not End

A former employee of the AMSC-owned Windtec alleges to be pursued by a secret service. The U.S. should have intervened at the Austrian justice.

March 21, 2012

Bulgaria Suspects OMV, Lukoil, Rompetrol of Price Fixing

Bulgaria’s antitrust regulator said four fuel retailers including the Bulgarian units of OMV AG of Austria, OAO Lukoil , Russian oil producer, Rompetrol Rafinare SA and Petrol AD are suspected of being involved in price fixing.

March 17, 2012

Corruption: Costs of € 27bn for Austrian Economy

Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.

March 16, 2012

Voestalpine Closes TSTG Schienentechnik

The shutdown of German TSTG is due to a “lack in efficiency”. Because of the current cartel proceedings, the Austrian steel company has to build provisions of € 205m.

March 13, 2012

BWB Finishes Razzia at Rewe Austria

Due to suspicions of price arrangements, the Austrian Federal Competition Authority (BWB) secured comprehensive documents of Rewe Austria. The longest razzia in BWB´s history is finished.

March 9, 2012

Bank Insolvency Act to be Finished by Summer 2012

According to the government´s plans, the Austrian financial market authority (FMA) should obtain more competences.

March 7, 2012

Rewe is Said to Constrain Investigations

The Austrian Federal Competition Authority (BWB) suspects Rewe Austria to have made price arrangements. Rewe should have constrained BWB´s investigations.

March 6, 2012

Razzia at Rewe Austria Continues

Investigators announced to have found substantial evidence at Rewe Austria, which is suspected of having made price agreements.

March 3, 2012

Rewe Suspected of Price Arrangements

The Austrian Federal Competition Authority (BWB) suspects Rewe Group for having made price arrangements with competitors and suppliers.

February 28, 2012

Telekom Austria Faces Severe Image Difficulties

Many details over bribery payments from Telekom Austria to politically exposed persons were revealed. Now, the company sues its former executives.

February 18, 2012

German Justice Puts Pressure on Former Hypo Group Executives

In order to get damage compensation, the German justice opens legal proceedings against the former CEO´s of Austrian Hypo Group, Tilo Berlin and Wolfgang Kulterer.

February 18, 2012

Rasinger: „Telekom Austria Needs New Executives“

The spokesman of Austrian retail investors, Wilhelm Rasinger, wants to change Telekom Austria´s management, which are “untroubled”.

February 14, 2012

CA Immo Brings an Action Against Grasser

The former Minister of Finance, Karl-Heinz Grasser, faces a lawsuit by the Austrian real estate company. CA Immo claims € 200m.

February 7, 2012

Bank Austria Lost Madoff Case

Bank Austria distributed Primeo Funds, issued by the U.S. former investment banker Bernard Madoff. The prospectus did not contain sufficient information, a Viennese court decided.

January 13, 2012

Voestalpine Involved in Further Cartel

According to German newspaper reports, the Austrian steel producer is involved in another cartel in the rail market.

December 28, 2011

Benko Relieved from Money Laundering Accusations

Investigations against the Austrian real estate investor will end soon, German newspapers report. Benko bids for Metro´s subsidiary Kaufhof.

December 20, 2011

Kaufhof: Investigations Cause Delay in Sale Process

Suspicions of money laundering against the Austrian real estate investor René Benko prevent the take-over for the time being.

December 13, 2011

UK Court Freezes Assets of Kohn

A British judge froze funds of 27m pounds (€ 31.4m) of the Austrian former investment banker Sonja Kohn, who is accused to have participated in Bernard Madoff´s frauds.

December 3, 2011

Corruption in Austria Is Growing

Austria has lost six positions since 2005 and now only ranks 16 in Transparency International’s corruption index.

December 2, 2011

Investigations Against Benko

The Austrian real estate investor Benko is suspected for money laundering. Benko denies and sees a link to the Kaufhof-deal.

November 26, 2011

A-Tec: Investigations Against Kovats

Investigations by the Austrian Public Prosecution Authority against the CEO of A-Tec, Mirko Kovats, proceed. The suspicions are massive.

November 19, 2011

Petrom Accused for Breach of Antritrust Rules

The Romanian subsidiary of the Austrian OMV, Petrom, is confronted with alleged breach of antitrust regulations.

November 16, 2011

Business Crime: Every Second Firm Concerned

In Austria, business crime becomes more and more obvious. Often alertness is not really given.

November 1, 2011

OeNB Dismisses Management of Money Printing Subsidiary

Three persons were fired for suspicion of unlawful actions. € 14m have allegedly been paid as bribe to secure a deal with Syria.

October 28, 2011

Corruption Suspicions Against Penta

The Czech-Slovak investment company, which also bid for the Austrian A-Tec, is accused to have paid bribes to the Czech Minister of Finance.

October 19, 2011

U.S. Company Claims $ 25m From Andritz

The U.S. company Ovalstrapping accuses the Austrian technology Company Andritz to have copied its technologies. Andritz defends itself.

October 19, 2011

FMA Investigates Against Treichl

The Austrian Financial Market Authority has severe suspicions against Erste Group´s CEO Andreas Treichl.

October 18, 2011

Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide

Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.

October 4, 2011

Gas Cartel Investigations Continue

Another office has been searched on Wednesday. Austrian oil and gas company OMV does not see itself in the focus of prosecution.

September 28, 2011

Cartel Suspicions Against OMV

The Commission of the EU suspects ten gas companies of market abuse. The Austrian OMV wants to cooperate with the authorities.

September 27, 2011
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