So, today SRF has an article about USB and money laundering. Over the course of many years, and ignoring thousands of warnings, they (allegedly) laundered money for a corrupt politician and his family. The government subpoenaed documents, which UBS failed to provide, or provided only partially. As a result, UBS has been fined…wait for it…they have been fined CHF 50,000.

That's not even a "cost of doing business". That's a joke, that's a pat on the back, that's "good job, go do it again". WTF???

by Waltekin

9 comments

  1. Don’t you consider the value of the shame of this fine! /s

  2. Incredible! It’s almost like the Swiss government won’t ever do anything going against the big corporations! 
    In other equally incredible news: water is wet.

  3. That’s a good bottle of wine after closing a contact worth billions.

    This is ridiculous.

  4. I envy your ability to still get upset about stuff like that.

  5. I’m so happy that we propped up CS, only to sell its profitable parts to UBS, making it so large that it can’t ever be held accountable for anything, ever again!

    Totally a great idea!

    Nothing bad could ever happen from having our entire economy be threatened by anything bad happening to a single corporation.

  6. I find that your post does not help the economy. I suggest we reduce the number of hospitals in Switzerland and increase premiums by 10% next year.

    /s

  7. It’s known that billionaires keep a lot of their money in Switzerland etc. they are and always will be a tax haven.

  8. If you do it, youre a felon.
    When corporations do it, its good business practice
    This is like capitalism 101 lol

  9. If the fine was any bigger, they’d need another bailout even sooner than usual!

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