Understanding Countries' AML Fines
When we look at the total AML fines in recent years, we see that the total amount of penalties has increased. Especially financial institutions are exposed to severe penalties due to their flaws in their compliance processes. While in 2018, AML penalties were about $4 billion, in 2019, these penalties amounted to about $8 billion. In addition, when we look at the first half of 2020, we see that the AML penalties given are close to $6 billion.