Another Fine Mess | Analysis of Global Financial Institution Fines

Presented by

Rachel Woolley, Conor Coughlan, Graham Barrow, Ray Blake

About this talk

Fenergo’s latest analysis of global financial institution fines shows that regulators across the US, EMEA, MENA and APAC have issued USD$36 billion in AML/KYC and sanctions-related fines since 2008 and $10 billion in the past year. Fenergo will be hosting a webinar featuring our subject matter experts and The Dark Money Files presenters, Graham Barrow and Ray Blake, who will dissect these findings and offer new insights into global financial enforcement trends and the drivers behind them. Key highlights from the research include: - US$10 billion in fines issued in 2019 for non-compliance with AML, KYC and sanctions regulations - 12 of world’s top 50 banks penalized - US$89.1 million was the average 2019 fine value issued - France issued 51% of the total amount (by $) in fines, followed by US (43%), Belgium (3%), UK (2%)

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Fenergo is the digital enabler of client and regulatory technology for financial services. It provides Client Lifecycle Management (CLM) software solutions for Financial Institutions including; Corporate & Institutional Banking, Commercial & Retail Banking, Asset Management, Private Banking & Wealth Management. Counting 70 global Financial Institutions as clients, its award-winning CLM suite digitally transforms how Financial Institutions manage clients; from initial onboarding to KYC/AML and regulatory compliance, to data management and ongoing lifecycle KYC reviews and refreshes. Fenergo CLM empowers financial institutions to deliver a faster, compliant and digital customer experience while achieving a single client view across channels, products, business lines and jurisdictions.