Higher op risk charge follows UBS tax fraud verdict
Clash with French courts adds $2.8 billion to op RWAs
UBS was hit with a higher operational risk capital charge in the first quarter after been found guilty by a French court of laundering client funds.
In February, the bank was fined €3.7 billion ($4.1 billion) and forced to award damages of €800 million to the French state for funnelling wealthy customers' assets into Swiss accounts and out of the reach of tax authorities. UBS is appealing the
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