$1.5 billion fine on UBS over Libor manipulation

Swiss bank UBS has been fined $1.5 billion over the manipulation of Libor benchmark rate.

It is the second biggest fine ever on a global bank after HSBC which was recently fined a record $1.92 billion after being accused by U.S. prosecutors of failing to enforce rules designed to prevent money laundering.

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Categories: Banking Current Affairs 2018

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