image description

Another Fine Mess: A Global Research Report on Financial Institution Fines and
Enforcement Actions

Manual post section

Another Fine Mess: A Global Research Report on Financial Institution Fines and
Enforcement Actions

Fenergo has published its latest analysis of global regulatory fines for AML, KYC, sanctions, MiFID, and data privacy violations against financial institutions.

The results outline trends in regulatory fines since the last
report in 2018 and draw comparisons with activity from the previous 12 years.

Between October 2018 and December 2019, regulators across the US, Europe, APAC and the Middle East have levied over USD $10 billion in financial penalties against financial institutions for AML/KYC and sanctions-related violations and a further USD$82.7 million for data privacy and MiFID violations. For AML, KYC and sanctions violations, global financial institutions have paid out over USD$36 billion in fines since the financial crisis in 2008.

Key Insights:

  • 2019 was the second-biggest year in history for fines with USD$8.4 billion levied against global financial institutions
  • Fines related to AML, KYC and sanctions violations increased by 160% since Fenergo’s last report
  • US regulators continue to hit foreign financial institutions hard, fining European ones 10 times more in USD$ than those handed to US financial institutions.

Check out our interactive infographic which will show a global and regional perspective of regulatory enforcements from 2008 to 2019. 

Download the full report to find out more.

Download

Please complete the form below to download this report.

previous report

Delivering Better Client Experience with Digital Client Onboarding

next report

Chartis RiskTech100® 2020
TOP