Regulatory Alerts2026-08-03 | 2026-02Added
Consent Order Imposing Civil Money Penalty on UBS Financial Services Inc.
FinCEN imposes a civil money penalty on UBS Financial Services Inc. for willful violations of the Bank Secrecy Act and its implementing regulations. The order addresses failures to maintain an adequate anti-money laundering program and monitor foreign currency wires, specifically noting that UBSFS failed to appropriately monitor more than 61,500 foreign currency wires with an aggregate value of more than $10.5 billion. These violations occurred during the relevant time period from January 1, 2019, through June 30, 2023, and included continued non-compliance following a prior 2018 consent order.
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