White Paper

Whitepaper: AML Bank Fines 2022 Roundup Report

Financial Crime
April 25, 2023

A significant drop in AML fines handed out in 2022 compared to previous years shows signs that financial and banking institutions are improving their compliance actions. However, widespread reliance on outdated technology and manual processes remains a significant regulatory risk, and a record breaking fine in 2022 shows that regulators still intend on using their teeth if they find failures have occurred.

Throughout 2022 Kyckr has been collecting information on anti-money laundering (AML) bank fines publicly announced by enforcement agencies worldwide. We looked at banks fined for AML compliance violations and the compliance failures that resulted in the penalty.

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