UBS fined $125 million by US regulators for money laundering violations

UBS fined $125 million by US regulators for money laundering violations  Reuters

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 -