AML & Sanctions violations (2008 - 2018)

$26 billion levied in fines against financial institutions for AML/sanctions violations since 2008.

Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.

• $8.9 billion was the highest fine ever issued (levied by the US DoJ against a French Bank in 2015). The US Department of Justice is the most active regulator when it comes to imposing financial penalties for non-compliance.

Then there are other areas:

Canada

Mexico

• $11.52 billion levied in 2015 alone, the most punitive year for fines.
• $91.8 million is the average global fine issued.

What percentage of fines

• 67% of fines for sanctions violations were levied globally (by $); differs from APAC and Europe where AML fines outweigh fines for sanctions violations.
• The US has issued 91% of the total amount (by $) of fines globally, followed by the Netherlands (3.5%), Australia (2.06%) and UK (1.58%).

Europe recorded their highest regional fine in 2018 against a Dutch bank.

1. Europe accounts for 7% of global AML fines levied in the last 10 years, totalling $1.7 billion across 83 separate fines.
2. 2018 was a record year for AML fines with a total of $903 million levied.
3. Average AML fine issued regionally was $20.5 million.
4. AML violations account for 89% more of the total penalty amount issued in comparison to sanctions.

Germany

France

The Nordics is the only region that fines their own domestic banks more than international banks. Majority of financial institutions get fined by international regulators rather than their own regulators.

The last 4 years in APAC has seen regulators flex their enforcement muscles with tougher penalties and regulators in the Middle East are starting to find their regulatory bite.

Source: Fenergo

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