The Financial Supervisory Authority
(FMA) is investigating Raiffeisen Bank International ($RBI (+0.39%) ) due to possible violations in the combating money laundering.

The investigation focuses on the "know-your-customer principle" and concerns payments made by three customers between 2017 and 2020. The RBI could receive an administrative fine as, according to the FMA, it has not fully complied with its obligations.

The investigations relate to payments with a connection to Russia and data from the "Cyprus Confidential" project by the International Consortium of Investigative Journalists. The RBI plans to appeal against a fine if one is imposed.