Financial Services Financial Services

UBS fined in Switzerland over money laundering failures linked to former Yemeni leader

By Martin Coyle
  • 31 May 2024 11:51
  • 31 May 2024 11:51
UBS has been fined 50,000 Swiss francs ($55,000) for failing to file reports about suspected money laundering linked to Ali Abdullah Saleh, the former president of Yemen.
In a fine issued last month and only just made public, Switzerland’s Federal Department of Finance confirmed that the bank had been penalized

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Martin Coyle

Senior Correspondent


Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

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