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Fines for money laundering breaches total around $930m globally, drop 40% in second pandemic year

It comes despite widespread predictions of an uptick in financial crime during the Covid crisis

By Lucy McNulty
UK regulators issued $32.9m in fines in the first half of 2021, compared to US regulators' $711m in penalties over the same time period
UK regulators issued $32.9m in fines in the first half of 2021, compared to US regulators' $711m in penalties over the same time period Photo: In Pictures via Getty Images

Penalties imposed on global finance companies for breaching anti-money laundering rules almost halved in the first six months of 2021 as compared to the same period in 2020.

Penalties for non-compliance with AML and know-your-customer regulations dropped 40% in the first half of 2021 to total around $930m globally, according to data compiled by fintech Fenergo and seen by Financial News. 

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