€22bn in lender firm fines since 2008


September 27, 2018

Financial institutions across the world have paid $26bn (€22bn) in fines for failures in money laundering and customer verification, and sanctions since the global financial crash, a new report has found.Dublin-headquartered financial data management firm Fenergo found the US accounts for nearly 44% of all global regulatory anti-money laundering and so-called know-your-customer fines, yet almost 91% of the total value at over $23.5bn.