Varengold Wertpapierhandelsbank
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2023
BaFin Iran-related money-laundering restrictions
BaFin prohibited Varengold Bank AG from conducting transactions with payment agents and other third parties connected with Iran. The regulator cited high money-laundering risks and serious shortcomings in the bank's anti-money-laundering prevention measures.
2020
Cum-ex investigation and search
Varengold's investment subsidiary was involved in cum-ex transactions, and German prosecutors investigated former responsible persons over suspected aggravated tax evasion. Investigators searched the bank in August 2020. Potential tax-related claims were reported as a burden on the bank's financial position.
2018
Reported Iran Air relationship
The Jerusalem Post reported that Varengold was said to have conducted business with Iran Air during a period in which United States sanctions were relevant. The reporting raised questions about sanctions exposure and the controls surrounding the bank's international-payment activities.