Published by Global Banking & Finance Review®
Posted on September 23, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleUBS agrees to pay nearly $1 billion to settle a French tax case involving cross-border activities from 2004-2012, following a court ruling.
BERLIN (Reuters) -Switzerland's UBS has agreed to pay almost a billion dollars to resolve a legal case concerning its cross-border business activities in France between 2004 and 2012, the bank said on Tuesday.
As part of the resolution, UBS will pay a fine of 730 million euros ($860.45 million) plus 105 million euros in civil damages to the French state, it said in a statement.
In 2023, the French Supreme Court confirmed a Paris appeals court's decision finding UBS guilty of unlawful client solicitation and aggravated money laundering and referred the financial penalty and civil damages to be re-assessed by the lower court.
($1 = 0.8484 euros)
(Writing by Rachel More, Editing by Friederike Heine)
Money laundering is the process of making illegally obtained money appear legitimate. It typically involves three steps: placement, layering, and integration.
A financial penalty is a monetary charge imposed as a punishment for violating laws or regulations. It is often used to deter future violations.
Aggravated money laundering refers to more serious forms of money laundering that involve larger sums of money or more sophisticated methods to conceal the origins of illegally obtained funds.
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