UBS AG will pay the U.S. Treasury Department $1.7 million for processing transactions as recently as 2013 on behalf of an alleged terrorist blacklisted a month after the Sept. 11 attacks. The Swiss bank, which opened accounts for the unnamed client in 1993 and 1994, prohibited the individual from externally transferring or withdrawing funds after Switzerland added the person to its sanctions lists, the department's Office of Foreign Assets Control (OFAC) said Thursday. But the bank continued to process U.S.-dollar transactions for the client's purchase of American securities and collection of dividends and cash distributions from the United States, according...
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