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

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

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.

Download the Report! 

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TITLE LINE GOES HERE

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Anim pariatur cliche reprehenderit, enim eiusmod high life accusamus terry richardson ad squid. 3 wolf moon officia aute, non cupidatat skateboard dolor brunch. Food truck quinoa nesciunt laborum eiusmod. Brunch 3 wolf moon tempor, sunt aliqua put a bird on it squid single-origin coffee nulla assumenda shoreditch et. Nihil anim keffiyeh helvetica, craft beer labore wes anderson cred nesciunt sapiente ea proident. Ad vegan excepteur butcher vice lomo. Leggings occaecat craft beer farm-to-table, raw denim aesthetic synth nesciunt you probably haven't heard of them accusamus labore sustainable VHS.
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AiteGroup.pngRESEARCH HOUSE

Aite Group is a key Research House in the Financial Service Industry. It partners with participants in the international financial services marketplace, leveraging its analysts' industry experience to challenge, advise and to catalyze growth through independent market research and timely consulting. Aite Group builds bridges, brokers insight, and offers actionable advice that companies rely on to build their relationships and grow their businesses.



VirginieOShea.png AUTHOR

The author of the report, Virginie O’Shea, is a research director with Aite Group, heading up the Institutional Securities & Investments practice and covering data management, collateral management, legal entity onboarding, and post-trade technology. She brings to the firm more than 13 years of experience in tracking financial technology developments in the capital markets sector, with a particular focus on regulatory developments and standards. 


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Location Details

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12345 STREET NAME| CITY, REGION

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More Resources You Might Like:

More Resources You Might Like:

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CLIENTS WHO TRUST

OUR SOFTWARE SOLUTIONS

We selected Fenergo’s Client Lifecycle Management software to enable us to manage the CDD / KYC processes from client onboarding to client off-boarding and all the KYC / CDD compliance and lifecycle events (periodic and event-driven reviews) that occur in between. A core part of our business transformation program will involve creating an internal centralized KYC target operating model that will help us to simultaneously improve the client experience and reduce the cost impact of the regulatory KYC activities. Fenergo is the technology platform that will underpin this initiative.

Helène Erftemeijer

Bank-wide responsibility for CDD, client master administration and regulations, ABN AMRO

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