NOT FOR REPRINT
UBS to Pay $125M Over Anti-Money Laundering Failures
News August 03, 2026 at 01:29 PM
Share & Print
What You Need To Know
- UBS failed to adequately monitor its customers’ foreign currency wire activity for possible suspicious transactions.
- Flaws first with its legacy AML transaction monitoring system and then with its new automated system led to the failures, regulators found.
- The firm also failed to maintain customer risk profiles, including failing to timely identify a client with ties to a Russian oligarch.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Immediate Answers to Critical Tax Questions At Your Fingertips
Keep up with the latest tax rules and regulations with weekly, exclusive updates by our Tax Facts experts.
Get More InformationRecently Added Q&As
Recently Updated Q&As
What is the temporary "senior deduction" deduction for taxpayers age 65 and over?
Get Answer
Recently Updated Q&As
What is the temporary deduction for auto loan interest?
Get Answer
Recently Updated Q&As
What is the temporary deduction for overtime income?
Get Answer
Recently Updated Q&As
What is the temporary deduction for tip income?
Get Answer
Recently Updated Q&As
What is a high deductible health plan for purposes of an HSA?
Get Answer
Recently Updated Q&As
Are remote workers eligible for leave under the Family and Medical Leave Act (FMLA)?
Get Answer
Recently Updated Q&As
What is the CARES Act employee retention tax credit that was available during 2020 and 2021?
Get Answer
Recently Updated Q&As
Who must file a return?
Get Answer