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Konrad K Häuptli

ABOUT THE AUTHOR

Konrad Häuptli graduated from the University of Berne, qualified as an attorney-at-law and was admitted to the Bar of the Canton of Berne. He joined HSBC in 2002 after working with Swiss Re for over 20 years. He then went on to work for KENDRIS in 2016 after retiring as former CEO of HSBC’s Trust Companies in Switzerland. Konrad Häuptli is a member of the Advisory Board of the Swiss Association of Trust Companies (SATC) and is also a member of mixed expert groups representing SATC. He has been managing family assets and has been involved in entrepreneurial activities, board assignments as well as private equity investments.
UBS fined USD 125 million for AML violations

by Konrad K Häuptli | Aug 4, 2026 | Regulatory

k-flash audio commentUBS fined US$125 million for AML violations
k-flash audio commentUBS fined US$125 million for AML violations

The case

UBS has been fined USD 125 million by US regulators for violating the Bank Secrecy Act (BSA), the largest civil penalty ever imposed on a broker-dealer under the law.

Source: Reuters

The commentary

According to the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), UBS Financial Services willfully violated the BSA by failing to establish and maintain an effective anti-money laundering (AML) programme and by neglecting to file required Suspicious Activity Reports (SARs).

The investigation focussed on transactions involving high-risk jurisdictions and entities, including those linked to border-related activities, drug cartels, Iran, Russia and Venezuela.

UBS stated that it fully cooperated with the investigation and has taken steps to strengthen its anti-money laundering controls and compliance programme.

This publication has been prepared solely for information purposes and is does not constitute a recommendation, a solicitation, or an offer. The information on which this publication is based has been obtained from sources that we believe to be reliable and in good faith, but we have not independently verified such information and no representation or warranty, express or implied, is made as to its accuracy. All expressions of opinion are made as of the date of publication and may be subject to change without notice. k-flash and all related affiliates accepts no liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this publication or any part of its contents. The use of this publication should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. This publication is not directed to any person in any jurisdictions that prohibit such publication.
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