Regulators handed out just $4.2 billion in enforcement actions for non-compliance with a wide range of regulations in 2022, down 22% from 2021.
Yet with financial crime continuing to rise amid a global economic crisis, and more sophisticated criminal methods for fraud and money laundering, enforcement actions for AML-related breaches increased by 52%.
Our annual research report, 'Reading Between the Fines' - dives deep into Fenergo's analysis of enforcement data from 2022, as well as:
- The trends driving enforcement actions, and why fine values have plateaued in recent years
- Why 2022 was a watershed year for crypto, and what to expect from the regulatory crackdown on digital assets
- Best practice for managing risk exposure and for detecting and preventing financial crime
- Predictions: what 2022’s data tells us about the regulatory landscape going into 2023