UBS pays 300 Million to German Tax authorities

UBS has settled with the German tax authorities to pay a 300 million euro fine, due to the suspicion they were aiding and abetting tax evasion. The prosecution has been investigating the Swiss bank since 2012. The investigation was instigated by the discovery of a CD containing details of UBS clients that was acquired by the German state of North Rhine-Westphalia.   ... →

Money laundering at UBS

After the Swiss Bank Credit Suisse was convicted of tax fraud and fined a penalty of 2.6 Billion dollars in the United States, a second Swiss bank is now in the sights of the authorities.

The Brussels public prosecutor’s office on the evening of the 19 June 2014 stated that a legal case had been made against Marcel Claudia Wettstein, head of the Belgian UBS branch.   ... →

BNP Paribas and Credit Suisse: Criminal proceeedings in the USA

Once again European Banks have been threatened with large fines due to misconduct. The ‘Wall Street Online’ reports that investigations against BNP Paribas have been ongoing since 2009. The Manhattan District Attorneys Office as well as the Federal Prosecutor are united against the European bank who is said to have violated US sanctions against Iran, Cuba and Sudan.   ... →