Global Crypto AML & Regulatory Fines Surge in 2022
Since the financial crash in 2007, an estimated $56.1 billion in enforcement actions has been levied to financial institutions and individuals for AML, data privacy, MiFID, and ESG compliance violations.
The Report will be available in February 2023. We will be hosting a webinar before that, where we will be sharing early access to the report.
Join Fenergo’s live webinar where our Financial Crime Policy Manager, Rory Doyle, will be joined by special guests to delve into the findings of Fenergo’s analysis of enforcement actions data from 2022, as well as:
Registrants will gain early access to our annual enforcement actions report.
In 2022, fines for non-compliance with Anti-Money Laundering (AML) and related regulations against the financial sector totalled $4.17 billion, a decrease of 22% from 2021.
regulators issued a total of $5.58 million in enforcement actions to financial institutions in 2022, down 99% from 2021
saw a 66% decrease in the value of financial penalties, from $3.4 billion in 2021 to just over $1.16 billion in 2022
had a sharp rise in enforcement actions during the 2022 calendar year, with values up 151% from 2021
regulators in Latin America fined financial institutions $2.5 billion, down 82% from 2021
approximately 12 individuals were fined $31.2 million for their role in AML-related compliance breaches
Fenergo's 2021 report of global financial institution fines is available to download now. So what’s changed since 2020?
Globally, the total value of financial penalties issued by regulators to financial institutions for AML and data privacy breaches reached approximately $5.4 billion, a 49% decrease in value compared to the year prior.
How have geopolitical and financial crime trends impacted enforcement actions in 2021 and what does 2022 behold for financial institutions?
Discover this and more at our informative webinar discussion entitled Financial Institution Enforcement Actions: Implications of a COVID Climate.
Fines to crypto financial institutions and their employees reached $193 million, rising by 92% when compared to 2021.
Fines to individuals increased by 89% from approximately $16,505,264 in 2021 to $31,209,191 in 2022 – largely a result of crypto-related fines.