UBS fined $145 million in US for money-laundering failings

Swiss bank UBS has been ordered to pay fines totalling $145 million (CHF117 million) in the US for inadequate anti-money laundering controls. The major bank has been explicitly described as a repeat offender. On Monday, the US money laundering regulator FinCEN imposed a civil fine of $125 million on UBS subsidiary's - UBS Financial Services Inc. This is the highest penalty ever imposed on a broker-dealer for breaches of the Bank Secrecy Act. + Millions tied to Magnitsky case leave Switzerland…