Swiss authorities just dropped charges that are sending shockwaves through the banking world. The country's attorney general has formally accused UBS—alongside a former compliance officer from Credit Suisse—of turning a blind eye to red flags that should've stopped money laundering dead in its tracks. We're talking about the infamous Mozambique scandal here, you know, the one involving those sketchy "tuna bonds" that made headlines years ago. Prosecutors claim these financial gatekeepers basically failed their one job: preventing dirty money from flowing through their systems. The case highlights how even top-tier institutions can stumble when compliance checks get sloppy. This legal move puts renewed spotlight on anti-money laundering enforcement and whether banks are truly doing enough—or just checking boxes. For an industry that's supposed to be all about trust and transparency, this is another uncomfortable reminder that oversight matters.