Swiss private bank Julius Baer has been ordered by the Swiss financial regulator Finma to pay 4.4 million Swiss francs ($5.2 million) due to serious failings in its anti-money laundering controls. The decision, based on a notice dated November 2024, highlights the bank's failure to detect or act on suspicious transactions occurring between 2009 and 2019. The penalty includes the return of profits that may have been earned unlawfully. This regulatory action marks a setback for Julius Baer's new management team. The bank has declined to comment on the matter.