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Financial institutions have been hit with noncompliance fines worth $36 billion globally since the Great Recession

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From the financial crisis to the end of 2019, financial institutions (FIs) racked up fines worth $36 billion globally for noncompliance regarding anti-money laundering (AML), know-your-customer (KYC), and sanctions regulations, according to findings from Fenergo.

Fines related to MiFID and GDPR accounted for $82.7 million of that total. Noncompliance fines have increased 160% since the last report by Fenergo on the subject 15 months read more >>>

Source:: BusinessInsider.Com