SWX:UBSGCapital Markets
UBS Group (SWX:UBSG) Faces $125 Million U.S. Anti Money Laundering Fine
UBS Group subsidiary fined $125 million by multiple U.S. regulators for repeated anti money laundering violations.
Penalties follow admissions that the bank failed to properly monitor foreign currency wire transfers and file suspicious activity reports.
The settlement ranks among the larger recent anti money laundering cases involving a global financial institution.
For investors tracking UBS Group, ticker SWX:UBSG, this enforcement action arrives while the stock trades around CHF42.55. The...