U.S. Launches Investigation into Credit Suisse UBS for Violating Russian Sanctions

The U.S. Department of Justice (DOJ) has launched a widening probe into UBS Group AG and Credit Suisse Group AG, focusing on potential violations of Russian sanctions. This investigation centers around suspected compliance failures that may have allowed Russian clients to evade restrictions, potentially involving financial professionals who aided in the process.

Shares of UBS plunged on Wednesday following a Bloomberg report detailing the intensifying inquiry. According to sources familiar with the matter, The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, heightening scrutiny over the Swiss bank's handling of sanctioned assets.

Specifically, The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group AG over suspected compliance failures that allowed Russian clients to access the global financial system despite sanctions imposed in response to the war in Ukraine. The investigation is examining whether both institutions adequately screened clients and transactions to prevent sanctions evasion.

The DOJ is looking into whether Credit Suisse Group AG and UBS Group AG are among banks under scrutiny in a Department of Justice probe into whether financial professionals helped Russian oligarchs and other sanctioned individuals move assets and conduct business. The outcome of the probe could result in significant fines and reputational damage for both UBS and Credit Suisse.

While the investigation is ongoing, this signifies a heightened commitment from the U.S. government to enforce sanctions against Russia and those who facilitate their circumvention. This news is current, with ongoing developments. (27 de sept. de 2025 is referenced due to related reporting dates, but this is an ongoing issue).