Raiffeisen Bank’s own internal anti-fraud department has uncovered a range of financial crimes in Sighetu Marmatiei, in Maramureș, Northern Romania. According to Raiffeisen, the branch manager and employees are implicated in a number of offenses, including embezzlement, forgery, use of forged document, as well as complicity in these acts.

Raiffeisen’s anti-fraud department has notified the Romanian Police and fired the bank employees involved. Documents and information gathered from the internal inquiry will be made available to the police during their investigation. “Raiffeisen Bank has a zero tolerance policy towards fraud and violation of the code of ethics and laws. The Bank has implemented anti-fraud mechanisms necessary for supervision and enforcement of legal regulations and its internal rules. As a result, we cooperate well with the authorities whenever we investigate fraud or attempted fraud,” said Ionel Fierascu, Compliance Director of Raiffeisen Bank.

According to Raiffeisen Bank, in the last four years it has investigated a total of 119 cases of internal and external fraud, as well as 182 cases of attempted fraud. Over the same time period, Raiffeisen Bank has also cooperated with the Romanian police in seven sting operations against fraud.

Liam Lever, liam@romania-insider.com