UBS cleared over Bulgarian drug money laundering failures after Swiss appeal
By Martin Coyle and Phoebe Seers ( November 27, 2024, 14:52 GMT | Insight) -- UBS has today been cleared of a Credit Suisse legacy issue that the lender failed to prevent an employee from laundering the proceeds of Bulgarian drug money through the bank. The lender had taken the unwelcome mantle of becoming the first bank in Switzerland to be convicted in a criminal court in 2022.UBS has today been cleared of a Credit Suisse legacy issue that the lender failed to prevent an employee from laundering the proceeds of Bulgarian drug money through the bank....
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