News

Switzerland's Financial Markets Authority banned HSBC's private banking unit in the country from onboarding politically exposed persons as clients after finding that the lender breached anti-money laundering requirements by failing to adequately screen $300 million of transactions involving customers in Lebanon. More Blacklisted Russian oligarch Alisher Usmanov accused UBS in a lawsuit of triggering an "illegal" investigation against him in Germany by filing suspicious activity reports, Bloomberg reported. More Felix Sater, a real estate developer and convicted felon who partnered with former President Donald Trump to build the 46-floor Trump SoHo in New York, testified in a civil trial that...