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Swiss Expert Criticizes Austria’s Role in International Money Laundering
OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.
May 26, 2011
New Inspections at voestalpine Subsidiary
The German Federal Cartel Office today made new inspections at a local subsidiary of the Austrian steel company.
May 12, 2011
Inspections at German Subsidiary of voestalpine AG
Inspections by German Federal Cartel office at voestalpine Klöckner Bahntechnik GmbH.
May 11, 2011
According to its Employees, S&T is “Ripe for Bankruptcy"
The leadership of the troubled Viennese IT company is trying to hide an impending bankruptcy according to the company’s employees.
April 27, 2011
Rosenbauer: Settlement with German Cartel Office
Anti-trust proceedings of the Austrian Rosenbauer AG end with official notice of € 10.5m fine.
February 11, 2011
AvW Trial: Eight Years in Prison
An 8 years imprisonment sentence was imposed on the founder and CEO of AvW Group, Wolfgang Auer-Welsbach,
February 1, 2011
Skylink: Judicial Investigations are Presently being Conducted
The final report of the Audit Court on the Vienna International Airport Skylink project has been submitted. Criticism is devastating. Criminal investigations are starting.
February 1, 2011
Ruttenstorfer Acquitted
The trial against Ruttenstorfer, CEO of the Austrian oil company OMV took place yesterday. Ruttenstorfer had been charged for insider trading.
January 28, 2011
Suspicion of Insider Trading against Immofinanz’s CEO
The Austrian Financial Market Authority (FMA) is investigating Eduard Zehetner on suspicion of insider trading, according to the magazine "Profil".
January 25, 2011
Pricing Agreements in Austria's Transport Industry
The Austrian Federal Competition Authority has ncovered two shipping cartels involving several well-known carriers.
January 21, 2011
Hypo Group Purchase by BayernLB was "unrealistic"
The former chairman of BayernLB’s Supervisory Board said that the bank cheated itself on the purchase of the Hypo Group.
January 20, 2011
Austria's Competitiveness Increases Slightly
Austria rose one place, to the 21st, in the ranking of the most liberal economies.
January 14, 2011
Auer-Welsbach Pleads Not Guilty
The former CEO of the Austrian AvW stays by his actions on the first day of his trial.
January 12, 2011
Strong Merger Growth in Austria
The number of mergers has increased in 2010 by 12%. The Federal Competition Commission reported 238 cases.
January 12, 2011
AvW: Big Lawsuit because of Investment Fraud
One of the largest proceedings in Austrian economic history is being conducted against the former financial services provider AvW.
January 10, 2011
New Controversy over the Hypo Group
According to the investigators, there would be no connection between the Austrian bank and Gribkowsky, the former member of the board of BayernLB
January 10, 2011
Austrian Tobacco Industry Fears Cigarette Smuggling
According to the presently Japanese Austria Tabak, 20% of cigarettes are already smuggled. The tobacco tax is expected to increase this trend even more.
January 10, 2011
Suspicion on Money-Laundering at Hypo Group
Money transfers between the Carinthian Bank, Switzerland, Liechtenstein and the Caribbean are currently being checked extensively by the judiciary.
January 7, 2011
Former Member of the Board of BayernLB Arrested
Gerhard Gribkowsky, whose foundation in Austria was concealed to the German judiciary and is now known, is in custody
January 5, 2011
Black Economy is still Difficult to Control in Austria
About 14% of the economic product evades the Treasury in the Austrian economy, but experts say the trend is declining again.
January 5, 2011
Hypo Group: Little Enlightment Expected from Grasser and Berlin
The Chairman of the Inquiry Committee on the Hypo Group expects little gain of information by the summons of Karl-Heinz Grasser and Tilo Berlin.
January 4, 2011
Secret Foundation of BayernLB in Austria
In the hearings on the purchase of Austria's Hypo Group, a former Member of the Board of BayernLB concealed the existence of a foundation in Austria.
January 3, 2011
New Responsibilities for the Financial Market Authority
As of 2011, the Austrian Financial Market Authority (FMA) has to face new challenges. The focus is on the fight against money laundering.
January 3, 2011
Illegal Employment Grows
One of four Austrian firms employs illegal workers from abroad.
December 29, 2010
Sanader Remains in Extradition Custody
Custody prior to extradition was imposed on the former Croatian Prime Minister Sanader. He complains about the "arbitrariness of the Croatian authorities".
December 28, 2010
Investigations Against Sanader Continue
The investigation of Austrian and Croatian authorities against the former Prime Minister of Croatia in the Hypo affair are being intensified. Many questions remain unanswered.
December 23, 2010
Hypo Group: Sanader Denies Payments of Commissions
The former Croatian Prime Minister Ivo Sanader, questioned in Salzburg, denies having ever received money from the Hypo Group.
December 22, 2010
Accusations Against Sanader Grow Stronger
Many clues point to improper activities by former Croatian Prime Minister Ivo Sanader in connection with the Hypo Group.
December 16, 2010
Madoff Affair: Accused Defend Themselves
The accused Sonja Kohn and Stefan Zapotocky defend themselves vehemently against accusations and allegations. Both are, according to the accusation, part of the Madoff system.
December 14, 2010
Demands against the Hypo Group Amount up to € 300m
The investigation team appointed for the Hypo Group has determined property damages for over 300m. This amount is the basis for eventual claims.
December 14, 2010
Contradictions about Sanader's Connection to Carinthia
The connection between the former Croatian Prime Minister Sanader and the Carinthian Hypo Group is multifaceted, but also full of contradictions.
December 14, 2010
Madoff Proceedings: Billion Lawsuit against Bank Austria
The former chairman of Bank Medici, Sonja Kohn, is said to have managed the Madoff system for years. A lawsuit has been filed from the US.
December 13, 2010
OMV: Operating Result of Over € 2.0bn Expected
The CEO of the Austrian oil group, Wolfgang Ruttenstorfer says: "2010 was a good year for OMV”.
December 10, 2010
Corruption in Austria: 9% Pay Bribes
Austria follows the international trend of growing corruption. 25% are ready to pay bribes worldwide.
December 10, 2010
Passing On of Bank Information: FMA Defends Itself
Since, according to Wikileaks, the Austrian Financial Market Authority (FMA) has passed on bank data to the U.S., a position has been taken about the issue.
December 5, 2010
Discussion over Insider Trading Among Austrian Leadership
Domestic insider trading regulations could be improved, imply top personalities of the Austrian economy. Radical proposals are also being made.
December 3, 2010
U.S. Sees Money Laundering Activities at Austrian Banks
Wikileaks has published notes of the U.S. Embassy in Vienna. There were allegedly money exchanges between Austrian banks and criminals.
December 2, 2010
OMV CEO: Insider-process on January27
While the trial date for the CEO of OMV has already been set, many leading personalities express their trust in an open letter.
December 2, 2010
Financial Market Authority Strengthens Fight Against Money Laundering
The Austrian Financial Market Authority (FMA) wishes more on-site inspections and targeted action against international money laundering
November 25, 2010
OMV Supervisory Board: Confirmation of Ruttenstorfer as CEO
Being accused to insider trading, the other members of the board as well as the supervisory board demonstrated to have confidence in CEO Dr. Wolfgang Ruttenstorfer.
November 25, 2010
OMV's Supervisory Board Supports CEO Ruttenstorfer
The allegations of insider trading made by the Financial Market Authority are uncomprehensible, says member of the supervisory board Norbert Zimmermann.
November 23, 2010
Economic Espionage: Damages for 880 Million Euro in Austria
Every year, Austrian companies lose 880 million euro to economic and industrial espionage.
November 18, 2010
Suspicion of Insider trading: Ruttenstorfer receives support
After the Vienna Public Prosecution's charges against OMV's CEO Ruttenstorfer, the latter now receives support. It is being said that he has merely been "clumsy".
November 18, 2010
Telekom Srbija: Sale is Resisted
The partially for sale Telekom Srbija which Telekom Austria is said to be interested in, raises passions in Serbia. Opposition to the sale is taking shape.
November 11, 2010
Strabag and Alpine Suspected of Cartelization
Damages for 2 billion euro (2.8 billion dollars) are said to be the result of forming a construction cartel for motorway construction in Slovenia.
November 3, 2010
Identification Required for Savings Account Withdrawals
Since November 1, the implementation of the EU directive on anti-money laundering is in force. Customers therefore need not only a password, but also identification for a savings account withdrawal.
November 2, 2010
ÖBB: Alleged Corruption
An internal document about a meeting of the ÖBB Supervisory Board in 2008 has now appeared. Bribes are openly talked about.
October 29, 2010
Siemens Austria: Corruption Prosecution Expands Investigation
According to a media report, the prosecution has questioned two ex-managers of the group on suspicion of infidelity. They allegedly bribed business partners in South Eastern Europe.
September 21, 2010
Antitrust accusations against Polish subsidiary
The Polish Strabag subsidiary is under investigation for cartel collusion in public tenders.
July 2, 2010
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