AML Fines in a COVID climate
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.
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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.
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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.