FlashFeed
๐Ÿ“ˆ
UBS broker fined record amount for laundering money linked to Russia and Latin American cartels
๐Ÿ“ˆ Business

UBS broker fined record amount for laundering money linked to Russia and Latin American cartels

A brokerage firm linked to Swiss bank UBS will pay a record-breaking fine for systematically laundering money on behalf of clients connected to Russia and Latin American drug cartels. The penalty is described as the largest of its kind ever imposed. The case highlights persistent compliance failures at major international financial institutions.

Comments

No comments yet