UBS Denies Knowledge of Reported DOJ Probe Into Helping Russian Clients Evade Sanctions

UBS denies awareness of a reported DOJ probe into whether it helped Russian clients evade sanctions.
The probe was reported by Bloomberg, citing anonymous sources. UBS says it has been in touch with DOJ.
Up to $200 billion in Russian money may be in Swiss banks, per Swiss Bankers Association.
At a US Helsinki Commission hearing, concerns were raised over sanctions evasion and money laundering by Russia.
UBS stock dropped 8% on news of the reported probe before recovering somewhat.

cnn.com

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