UBS Financial Services: USD125 Million AML Penalty

Repeat Failures. Inadequate Remediation.

On 3 August 2026, FinCEN imposed a USD125 million penalty on UBS Financial Services Inc. for wilful violations of the Bank Secrecy Act—the largest BSA penalty imposed on a broker-dealer to that date.

The case concerned weaknesses in its AML programme, customer due diligence and suspicious activity reporting, despite an earlier FinCEN enforcement action in 2018.

A case study in why remediation must deliver sustained effectiveness—and how unresolved weaknesses can lead to substantially greater penalties.

See: Fine