UBS Fined $15 Million Over Anti-Money-Laundering Systems
Maria Armental and Samuel Rubenfeld, 17 December, 2018
UBS Group AG agreed to pay a combined $15 million fine over regulatory deficiencies in its anti-money-laundering program, U.S. regulators said Monday.
The U.S. Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, said broker-dealer unit UBS Financial Services Inc. violated the Bank Secrecy Act, which requires financial firms to report suspicious activities, over a roughly 13-year period through 2017. Continue reading “Article: UBS Fined $15 Million Over Anti-Money-Laundering Systems”
