Financial Stability

Financial institutions see fines drop by a half

By Justin Pugsley
BRR fallback image

The value of enforcement actions levied on financial institutions and their employees fell 49% to $5.4bn for anti-money laundering (AML) and data privacy violations, compared with $10.6bn in 2020. Financial institutions were hit with 176 fines for compliance breaches, compared with 760 previously.

The average fine value for AML-related compliance ...

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