On 7 August 2014 40,000 cubic meters of waste water, comprising acid – laced copper sulphate and heavy minerals, spilled from a copper mine in Northern Mexico into two rivers just 40 km from the US border. This toxic leak ... →
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 ... →
The Swiss banking giant, UBS, simply cannot escape the allegations of money laundering. In July 2014 Facing Finance reported on the illegal business practices of the Belgian UBS branch and the opening of a formal impeachment process of Marcel Brühwiler. ... →
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 ... →
The US Federal Deposit Insurance Corporation (FDIC) is suing 16 prominent banks, including Deutsche Bank, for their involvement in an elaborate LIBOR (London Interbank Offered Rate) manipulation scheme. LIBOR rates refer to the average estimated interest rates used for lending ... →
At the end of May the Bruno Manser Fund (BMF) has filed a complaint against the Swiss bank UBS over laundering money that was paid for clearing rainforests of the Malaysian state Sabah. After new evidence incriminating UBS appeared during ... →
The Bruno Manser Fund (BMF) has filed a complaint against the Swiss bank UBS with Zurich’s Public Prosecutor over the bank’s ties with Musa Aman, a Malaysian politician who controls logging in Sabah, a Malaysian state in North Borneo.
The ... →