Search Results for: Swiss bank
Swiss bank UBS fined over tax evasion in French appeal
December 14th, 2021
A French court fined Swiss bank UBS 1.8 billion euros on appeal for its role in helping French residents commit tax fraud. UBS took the fight to the Paris appeals court after being initially hit with a 3.7-billion-euro fine ...
Swiss bank UBS to appeal after fined 4.5 billion euros in French tax fraud case
February 21st, 2019
A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. Shares in the Swiss bank fell as much ...
Swiss banks crack down on suspected Saudi money laundering
December 6th, 2017
Banks in Switzerland have started reporting suspicious account activities among some of their Saudi clients to the Swiss Money Laundering Reporting Office, reports the Financial Times. The regulator is reportedly reviewing data on potentially suspicious transactions linked to Saudi ...
Swiss bank UBS probed in Germany over alleged tax fraud
September 29th, 2017
Prosecutors have started an investigation into clients of Swiss bank UBS in Germany suspected of tax evasion. According to Reuters, about 130 prosecutors and tax investigators from the city of Bochum carried out searches of premises, including UBS’ offices. ...
Swiss bank becomes first to offer bitcoin to its richest clients
July 14th, 2017
A Swiss bank is now offering to buy bitcoins for its clients. As of Wednesday, investors can ask their asset manager at Falcon Private Bank, a boutique investment firm headquartered in Zurich, to purchase and store bitcoin on their ...
About 15 Swiss banks reportedly in money laundering ‘red zone’
October 17th, 2016
Roughly 15 Swiss banks are in a”red zone” of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog Finma said in a newpaper interview published yesterday. Swiss federal prosecutors last week said they have opened ...
Former Swiss banker ‘Whistleblower’ has been sentenced to a 14-month suspended jail
August 24th, 2016
Former Swiss banker Rudolf Elmer has been sentenced to a 14-month suspended jail term after being found guilty of forgery and making threats in a long-running legal battle involving his former employer Julius Bär. However, the Zurich court on Tuesday ...
Swiss bank UBS is to face legal action for encouraging tax fraud that could cost it billion euros
July 11th, 2016
Swiss bank UBS, along with several of its former executives, is to face legal action for encouraging tax fraud that could cost it five billion euros, if judges accept a public prosecutor’s recommendation, reports said Friday. The company sent ...
Swiss bank Vontobel offers bitcoin trading
July 7th, 2016
Vontobel has become the first Swiss issuer to offer a tracker certificate on bitcoins for subscription. Investors who expect a positive development in the bitcoin price can now for the first time participate in this performance with a product ...
MAS directs Swiss Bank “BSI Bank” to shut down in Singapore
May 24th, 2016
The Monetary Authority of Singapore (MAS) announced today that it has served BSI Bank Limited (BSI Bank) notice of intention to withdraw its status as a merchant bank in Singapore for serious breaches of anti-money laundering requirements, poor management ...
