After hitting rock bottom in 2019, U.S. anti-money laundering enforcement rebounded dramatically in both volume and value last year while penalties assessed in response to sanctions violations dropped. The Federal Reserve, Financial Crimes Enforcement Network, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency completed 40 AML enforcement actions last year after logging a record low of 22 in 2019, and assessed $233 million in AML-related penalties, up from just $10.5 million, data compiled by ACAMS moneylaundering.com shows. Taken altogether, AML breaches triggered 40 of 65 enforcement actions that the OCC, Federal Reserve, FinCEN and FDIC disclosed...
U.S. enforcement actions against institutions and individuals caught violating anti-money laundering rules dropped to a record low again in 2019, sanctions enforcement stayed robust and a state regulator slapped the industry for hundreds of millions of dollars in penalties.
U.S. anti-money laundering enforcement bounced back significantly in 2018 despite the continued, overall decline in total enforcement actions, data compiled by ACAMS moneylaundering.com shows.
The number of U.S. enforcement actions citing individual and institutional violations of federal anti-money laundering rules hit a 10-year low in 2017, even as total outlays for AML regulatory penalties increased 10-fold, according to data compiled by ACAMS moneylaundering.com.
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