Fines for AML, KYC and sanctions violations up 160 per cent in 15 months

Fernergo has released its findings on financial institution fines which shows that in December 2019 global penalties totalled US$36 billion for non-compliance with anti-money laundering (AML), know your customer (KYC) and sanctions regulations. According to Fernergo, which includes AML, KYC and sanctions events in the client lifecycle management processes…