07:05 AM EST, 11/13/2024 (MT Newswires) -- The United States is looking into Russian clients that UBS (UBS) acquired through its Credit Suisse acquisition, Reuters reported on Wednesday, citing three people familiar with the matter.

The US sanctions enforcement agency OFAC had recently written to UBS for information, the report said.

The bank faces potential consequences if the issue is not resolved, the report added.

UBS did not immediately respond to an MT Newswires request for comment.

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