User:Berghausener/sandbox/Bank Winter & Co

Bank Winter & Co is an Austrian bank founded in 1892.

History
The bank was created in 1892 by Alfred Winter and became a member of the Vienna Stock Exchange.

In 1938, the bank was nationalized during the aryanization. It took 20 years for the Winter family to reclaim its banking licence, and a deal was struck with Simon Moskovics to pour capital into the relaunched bank. The bank created a trade system to circumvent the sanctions regarding the distribution of Eastern European goods in Western European countries.

In 1963, the bank received an exclusive licence from the government to import gold, and produce and sell gold coins.

In 2014, the bank was exposed for funneling $760 million out of the Ukrainian bank PrivatBank, contributing to its bankruptcy a few years later. In 2017, the bank was under scrutiny when it was accused of laundering $175 million for the Russian bank National Bank Trust through a complex scheme involving multiple offshore shell accounts. In 2020, the Austrian Financial Market Authority fined the bank 135,000 euros for failing to prevent money laundering operations.