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DOJ Intensifies Probe Into Credit Suisse, UBS Group Over Alleged Russian Sanctions Evasion

Benzinga ·  09/27/2023 22:11

The US Department of Justice (DOJ) is heightening its investigation into UBS Group(UBS.US) and Credit Suisse Group for alleged failures in compliance, which may have allowed Russian clients to circumvent sanctions.The DOJ's inquiry has transformed from a series of subpoenas earlier in the year to a full-fledged investigation, with a primary focus on Credit Suisse Group, as per sources cited by Bloomberg. The department is also reportedly investigating potential compliance issues with UBS.UBS, which assumed control of Credit Suisse in June, has received notification regarding the alleged involvement of its recently acquired subsidiary in

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