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Up Close and Personal The Year of Personal Accountability

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5 April 2021

Global Research Report on Financial Institution and Individual Enforcement Actions in 2020

The Financial Regulatory
Environment in a Historic Year

In 2020, fines for non-compliance with Anti-Money Laundering (AML), Know your Customer (KYC), data privacy and MiFID regulations against the financial sector totalled $10.6 billion, rising 27% from the year before.

Key findings include:

  • Approx. 212 individuals were fined $99.3 million in 2020 for AML and MiFID compliance breaches
  • Goldman Sachs received $6.8 billion in enforcement actions from multiple regulators for its involvement in 1MDB
  • A major Australian bank was fined almost $1 billion for a money laundering scandal with links to serious crimes
  • Chinese regulators set a historic record, issuing 733 fines to financial institutions and their staff at $96.1 million for AML breaches

Media

Documents

Insight details

Insight Format
Reports
Geographic Focus
Asia-Pacific, EMEA, LATAM, North America