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US Scrutinizes Credit Suisse's Russian Clients Taken Over by UBS: Report
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The US is investigating Russian clients taken over by UBS in its acquisition of Credit Suisse in an effort to tighten supervision on UBS, Reuters quoted sources as saying. It is reported that the US sanctions enforcement agency, the Office of Foreign Assets Control (OFAC), has sent a letter to UBS. The review concerns about the Russian clients at Credit Suisse, which UBS is now responsible for and imploded in March 2023 following years of scandals involving espionage and money laundering that led to its acquisition by UBS under a “strong arrangement” by Swiss regulators. AAStocks Financial News |
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