UBS has been acquitted in a high-profile money laundering case involving the Bulgarian mafia.

This comes after Credit Suisse was previously convicted for failing to combat money laundering practices.

The ruling raises questions about the accountability of financial institutions in preventing money laundering

and highlights the challenges they face in dealing with clients connected to organized crime.

It also emphasizes the importance of robust anti-money laundering measures and the potential consequences for institutions that fail to comply.

The case has resulted in reduced sentences for two defendants

and the potential for further legal action remains.

The financial sector will be closely watching these developments as they could set important precedents for future cases involving money laundering and organized crime.