The number of anti-money laundering (AML) fines assessed against financial institutions globally reached its highest amount in six years during 2021, though the penalty amounts associated with those enforcement actions dropped notably, according to the latest annual benchmark report.
Kroll’s Global Enforcement Review 2022, released Tuesday, recorded 55 money laundering fines issued in 2021 totaling approximately $1.6 billion in value. The fine total amount is a drop from 2020, when regulators handed out approximately $2.2 billion in penalties across 45 AML actions—despite contending with the onset of the Covid-19 pandemic.
