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Banks: UBS must pay $125 million fine in the US

US authorities are imposing a record fine on UBS for violating money laundering regulations. UBS refers to this as a completed old problem and points to reforms.

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Banks: UBS must pay $125 million fine in the US

We haven't written up this one. Handelsblatt has the full story — the link below goes straight to it.

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UBS to pay $125M in AML penalties

The brokerage arm of the Swiss bank didn’t fix flaws identified in 2018, resulting in some 60,000 foreign currency wires valued at about $10 billion going unmonitored, regulators said.

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