UBS Group AG UBS is on the verge of a settlement with the U.S. government that could include hundreds of millions of dollars in fines. This was reported by the Wall Street Journal (“WSJ”). The penalties are related to tax evasion at Credit Suisse,

The banking giant is set to pay at least a nine-figure sum over collapsed lender's failure to cooperate with efforts to catch tax-evading clients, according to the Wall Street Journal.

UBS Group AG is close to making a settlement of at least hundreds of millions of dollars over violations by Credit Suisse of a decade-old agreement with the US Department of Justice related to tax evasion,

The potential payout relates to an earlier deal over tax evasion by U.S. clients of Credit Suisse, the rival Swiss bank that UBS acquired in 2023.

UBS Group (NYSE:UBS) is close to paying hundreds of millions of dollars for alleged violations by Credit Suisse of an earlier agreement with the U.S. Justice Department regarding U.S. clients who evaded tax,