Enforcement Actions in a Covid Climate

Global Enforcement Actions by Region

718.6million

APAC

3.40billion

EMEA

14.3million

LATAM

1.20billion

NAM

Global Financial Institution Penalties on the Decline in 2021

Since the financial crash in 2007, an estimated $52 billion in enforcement actions has been levied to financial institutions and individuals for non-compliance with AML, data privacy and MiFID compliance violations. This is a mere drop in the ocean when compared to the estimated $2.4 trillion* in illicit cash that flows through the financial system each year.


In 2021, fines for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC) and data privacy regulations against the financial sector totalled $5.4 billion, a decrease of 49% from 2020.


Key findings include:

  • APAC regulators issued a total of $718.6 million in enforcement actions to financial institutions in 2021 down 86% from 2020
  • EMEA saw a 244% increase in the value of financial penalties from just over $1 billion in 2020 to $3.4 billion in 2021
  • North America had a sharp decline in enforcement actions during the 2021 calendar year, down 73% from 2020
  • Globally, approx. 16 employees were fined $16.5 million for their role in AML-related compliance breaches
  • Regulators in Latin America fined financial institutions $14.3 million, up 46% from 2020

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Delve into Fenergo’s 2021 enforcement actions analysis and discover how the industry can adhere to regulatory compliance in over 100 jurisdictions and better detect and prevent financial crime.

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Enforcement Actions in a Covid Climate
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