Trends in Civil Penalties for AML Non-Compliance and Violations.

1. Trends in
Civil Penalties
for AML Non-Compliance
and Violations
Statistics from OFAC indicate a sharp rise in penalty amounts
even though the number of fines have decreased.
120
1,139
104
100
1,000
772
800
80
60
600
400
40
27
21
200
16
27
200
20
90
3.5
0
2012
2011
No. of Fines
Penalty Amount (in Million)
1,200
2010
2009
Source: http://www.treasury.gov/resource-center/sanctions/CivPen/Pages/civpen-index2.aspx
0
2008
Penalty Amount
No. of Fines
Bank Fines for
Non-Compliance and Violations
Some of the nation’s leading financial institutions have been assessed huge penalties arising
from non-compliance to regulations. With more strict economic sanctions and enforcements,
banks and financial services firms need to ensure their compliance programs are designed to
minimize risk.
$ 1,139,158,727
THE TOTAL FINES OFAC HAS ASSESSED IN 2012 ALONE
Source: http://www.treasury.gov/resource-center/sanctions/CivPen/Pages/2012.aspx
Implications of
Non-Compliance
Financial Penalties
Imposition
of Sanctions
Imprisonment
Damage to
Corporate Reputation
Measures to be taken to
avoid these penalties:
Good Governance
Robust Compliance
Strong
Programs
Internal Controls
& Regular Audits
AgreeYa Solutions helps financial institutions and advisory firms
adapt to regulations and compliance programs, whereby significantly
reducing their exposure to corporate liability, sanctions, and litigation
that may arise from violations of statutory norms and law.
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Investment in Adopting
New Technology,
Processes