UBS brokerage unit's customers a gallery of rich, risky, US FinCEN says
By Samuel Rubenfeld ( August 7, 2026, 17:58 GMT | Comment) -- A UBS brokerage unit didn't update the risk profiles associated with certain customers in line with its anti-money laundering compliance obligations, according to its recent settlement with the US Treasury Department's Financial Crimes Enforcement Network. Though not named, customers profiled in the document range from an oligarch described as one of the wealthiest individuals in the world, with close ties to Russian President Vladimir Putin, to a high-ranking official in a Latin American country who beneficially owned an investment vehicle with UBSFS despite associations with "negative news." Another customer was identified as an American retiree who did years of consulting work for a blacklisted Russian oligarch and was ultimately indicted for sanctions evasion.A UBS brokerage unit didn't update the risk profiles associated with certain customers in line with its anti-money laundering compliance obligations, according to its recent settlement with the US Treasury Department's Financial Crimes Enforcement Network....
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