We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Unique-US scrutinizes Russia accounts UBS took over from Credit score Suisse, sources say By Reuters
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
Unique-US scrutinizes Russia accounts UBS took over from Credit score Suisse, sources say By Reuters
The Tycoon Herald > Business > Unique-US scrutinizes Russia accounts UBS took over from Credit score Suisse, sources say By Reuters
Business

Unique-US scrutinizes Russia accounts UBS took over from Credit score Suisse, sources say By Reuters

Tycoon Herald
By Tycoon Herald 3 Min Read Published November 12, 2024
Share
SHARE

By Oliver Hirt, John O’Donnell, Stefania Spezzati and Dave Graham

ZURICH/FRANKFURT/LONDON (Reuters) – The USA is pursuing an inquiry into Russian purchasers that UBS took on when it purchased Credit score Suisse, three folks accustomed to the matter stated, heightening scrutiny of one of many world’s greatest wealth managers.

The U.S. sanctions enforcement company, OFAC, has written to the financial institution as a part of this inquiry, two folks accustomed to the matter informed Reuters. A U.S. official, asking to not be named, stated the Swiss financial institution and the enforcer have held discussions.

OFAC, or the Workplace of International Belongings Management, the globe’s strongest sanctions company, wrote to UBS in current weeks, stated one of many folks.

Spokespeople for UBS and OFAC declined to remark.

The evaluation issues Russian prospects at Credit score Suisse that UBS is now overseeing after rescuing the lender, two of the folks stated. Credit score Suisse, UBS’ smaller Swiss peer, imploded in March 2023 following years of scandals from spying to laundering drug cash.

UBS is looking for to comprise any potential fallout from OFAC’s queries by cordoning off suspect cash and decommissioning the accounts to keep away from the specter of a penalty, a kind of folks stated.

The U.S. makes use of sanctions as a overseas coverage software, imposing restrictions to constrain the actions of countries comparable to Russia and Iran.

Unique-US scrutinizes Russia accounts UBS took over from Credit score Suisse, sources say By Reuters

Dealing with Russian cash has change into more and more dangerous, after the U.S. and Western allies rolled out an unprecedented internet of sanctions in response to Moscow’s invasion of Ukraine.

Whereas the U.S. official praised UBS for being cooperative, one of many different sources stated it was made clear that failure to cope with the issue could possibly be punished.Regulators in Switzerland have been scrutinizing how UBS is dealing with Credit score Suisse purchasers and the financial institution’s anti-money laundering insurance policies as they fear the Swiss financial institution might find yourself with dangerous purchasers, Reuters has reported.

You Might Also Like

Russia for Business: Experts Who Help Drive Decisions

The Quiet Shift in America’s Workforce: Why Side Hustles Are Becoming Essential for Women Over 40

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds

Fashion Designer Hyeonseo Irene Park: Redefining Menswear Through Originality and Collaboration

From Pattaya to the World: Bryan Flowers’ Unstoppable Rise as a Global Entrepreneur

TAGGED:AccountscreditExclusiveUSReutersRussiascrutinizessourcesSuisseUBS
Share This Article
Facebook Twitter Email Copy Link Print
England licking wounds after ‘torture’ of Ashes thumping at Wembley: ‘We merely weren’t ok’
Sports

England licking wounds after ‘torture’ of Ashes thumping at Wembley: ‘We merely weren’t ok’

Australia are 1-0 up within the three-match Ashes sequence in opposition to England after an emphatic 26-6 drubbing of England at Wembley Stadium.It was a sobering day for England in…

By Tycoon Herald 6 Min Read
Police Arrest Two Suspects in Louvre Museum Crown Jewel Theft
October 26, 2025
Genesis Championship: Junghwan Lee produces ‘greatest spherical’ for dwelling win in South Korea
October 26, 2025
Dylan Efron Breaks Nostril Throughout ‘DWTS’ Rehearsals
October 26, 2025
Movie star Pumpkin Photographs 2025 … It is A Gourd Ole’ Time!
October 26, 2025

You Might Also Like

Astana International Forum 2025: “Connecting Minds, Shaping the Future”
BusinessTrending

Astana International Forum 2025: “Connecting Minds, Shaping the Future”

By Tycoon Herald 3 Min Read
Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa
BusinessTrending

Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa

By Tycoon Herald 4 Min Read
Gaza residents stream dwelling to the north after hostage breakthrough By Reuters
Business

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters

By Tycoon Herald 6 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Sports

Man Metropolis boss Pep Guardiola questioning himself after Champions League defeat to Juventus

Pep Guardiola admitted he's questioning himself after Manchester Metropolis's newest defeat left them in peril of…

By Tycoon Herald
Sports

Ben Whittaker may very well be haunted by Liam Cameron incident and not using a rematch, says George Groves

Former world champion and Sky Sports activities professional George Groves says there is no name for…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?