UBS Fined €75,000 in France for Harassment of Whistleblowers

The Swiss bank was found guilty of harassing two former employees who exposed its tax evasion practices, marking a legal first in France.

UBS was fined €75,000, the maximum penalty, for the moral harassment of two whistleblowers by its French subsidiary.
The whistleblowers, Nicolas Forissier and Stéphanie Gibaud, had revealed UBS's system of facilitating tax evasion for wealthy French clients.
Nicolas Forissier was awarded €50,000 in damages, while Stéphanie Gibaud withdrew her civil claim after reaching a settlement with the bank.
UBS was acquitted of charges related to witness tampering and obstruction of workplace safety regulations.
This case follows UBS's earlier legal troubles, including a €3.7 billion fine in 2019 for tax fraud, with ongoing proceedings to reassess penalties.