The Panama Papers

Fate of Austrian banks to be investigated by authorities up in the air

Fake money being tossed in the air during a protest against money laundering in front of the headquarters of Raiffeisen Bank International (RBI) in Vienna, Austria, on Wednesday. Leaked documents published on Sunday suggest that 140 politicians and o
PHOTO: EUROPEAN PRESSPHOTO AGENCY

Fake money being tossed in the air during a protest against money laundering in front of the headquarters of Raiffeisen Bank International (RBI) in Vienna, Austria, on Wednesday. Leaked documents published on Sunday suggest that 140 politicians and officials from around the globe have connections with secret offshore companies to escape tax scrutiny. Two Austrian banks RBI and Hypo Vorarlberg are caught up in the Panama Papers leak, and are to be probed by the authorities.

A version of this article appeared in the print edition of The Straits Times on April 08, 2016, with the headline 'Fate of Austrian banks to be investigated by authorities up in the air'. Print Edition | Subscribe