UBS is fined $125 million in the United States for breaches of money-laundering requirements, according to multiple reports. The penalty is described as the largest ever imposed against a broker-dealer under the Bank Secrecy Act, and it follows the firm’s repeated failures to maintain adequate anti–money laundering controls. Quartz reports that the action is the second by the Financial Crimes Enforcement Network (FinCEN) against UBS, indicating regulators have previously escalated enforcement in relation to the bank’s compliance practices. The Financial Times says the bank did not implement sufficient curbs despite earlier sanctioning by US regulators. The Yahoo Finance report similarly characterizes the fine as tied to money laundering breaches. Overall, the reporting agrees that US authorities find UBS’s compliance controls insufficient, and the fine reflects both the scale of the penalty and the regulator’s prior engagement with the firm. The sources do not indicate any change to the underlying facts being assessed, focusing instead on the failure to implement effective safeguards and the record-setting nature of the fine.