UBS Financial Services to Pay $125 Million in AML/CFT Settlement with US Regulators

UBS Financial Services will pay a total of $125 million to settle charges from four U.S. regulators—FinCEN, CFTC, FINRA, and SEC—for repeated violations of Bank Secrecy Act (BSA) anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. FinCEN Director Andrea Gacki emphasized that recidivist financial institutions will face severe repercussions for jeopardizing the financial system's integrity.