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UBS pays $1.7M for OFAC violations

Fine Amount: 
$1.7 million
Penalty Type: 
Issued by: 

OFAC has announced that UBS AG (UBS) has agreed to a $1,700,100 settlement of potential liability for 222 apparent violations of the Global Terrorism Sanctions Regulations. UBS processed the transactions related to securities held in custody in the United States for or on behalf of an individual customer of UBS in Zurich, Switzerland who had been designated by OFAC in October 2001.

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