UBP must pay US authorities an additional $14 million in relation to historic cases of aiding tax avoidance.

The Swiss private bank has signed an addendum to their existing non-prosecution agreement with the US Department of Justice, which will see it pay another $14 million and provide supplemental information relating to 97 additional accounts, previously undisclosed.

The original non-prosecution agreement was signed in January 2016, when UBP reported it held and managed 2,919 US-related accounts, with assets under management of approximately $4.9 billion. They were fined $188 million ...