Number of AML Fines Rose in 2011, With Regulators Focused on Risk Models, Individuals

By Brian Monroe and Colby Adams

The total number of anti-money laundering enforcement fines handed down by federal regulators rose by 67 percent in 2011 compared to the previous year, according to data compiled by The number of Bank Secrecy Act (BSA) enforcement fines issued by the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corp. (FDIC), Federal Reserve, Financial Crimes Enforcement Network (FinCEN) and the now defunct Office of Thrift Supervision (OTS) totaled 15 for the year, up from nine issued in 2010. Overall, the number of BSA-related enforcement actions, including fines, rose five percent, from 53 in 2010 to 56...