The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) fined UBS Financial Services $125 million, the largest civil penalty ever imposed on a broker-dealer for anti-money laundering violations. Regulators said the firm willfully violated the Bank Secrecy Act by failing to adequately oversee more than 50,000 foreign-currency wire transfers worth over $10 billion. Authorities also said UBS did not conduct proper due diligence on high-risk customers with ties to Russia and Latin America, according to Reuters.