Over £2.6bn in AML-Related Fines Given to Financial Institutions in 2020

In 2020, twenty-eight financial institutions from fourteen countries were issued fines in excess of £100,000 USD for Anti-Money Laundering (AML) violations, with Q3 seeing the highest total of penalties. Money-laundering is a problem that will not go away, no matter what stringent procedures financial institutions put into place. Exactly how...