AML Penalties Infographics
1
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. www.agreeya.com 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. 1,139 90 200 772 3.5 16 21 27 27 104 0 20 40 60 80 100 120 0 200 400 600 800 1,000 1,200 2012 2011 2010 2009 2008 No. of Fines Penalty Amount (in Million) Penalty Amount No. of Fines Implications of Non-Compliance Source: hp://www.treasury.gov/resource-center/sancons/CivPen/Pages/civpen-index2.aspx 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: hp://www.treasury.gov/resource-center/sancons/CivPen/Pages/2012.aspx Measures to be taken to avoid these penalties: Good Governance Robust Compliance Programs Strong Internal Controls & Regular Audits Investment in Adopting New Technology, Processes Financial Penalties Imposition of Sanctions Imprisonment Damage to Corporate Reputation
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Trends in Civil Penalties for AML Non-Compliance and Violations.
Transcript of AML Penalties Infographics
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.
www.agreeya.com
Trends inCivil Penaltiesfor AML Non-Complianceand ViolationsStatistics from OFAC indicate a sharp rise in penalty amounts even though the number of fines have decreased.
1,139
90200
772
3.516
21
2727
104
0
20
40
60
80
100
120
0
200
400
600
800
1,000
1,200
2012 2011 2010 2009 2008
No.
of F
ines
Pena
lty A
mou
nt (i
n M
illio
n)
Penalty Amount No. of Fines
Implications ofNon-Compliance
Source: http://www.treasury.gov/resource-center/sanctions/CivPen/Pages/civpen-index2.aspx
Bank Fines forNon-Compliance and ViolationsSome 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.
$ 1,139,158,727THE TOTAL FINES OFAC HAS ASSESSED IN 2012 ALONE
Source: http://www.treasury.gov/resource-center/sanctions/CivPen/Pages/2012.aspx
Measures to be taken toavoid these penalties:
Good Governance Robust CompliancePrograms
StrongInternal Controls& Regular Audits
Investment in AdoptingNew Technology,
Processes
Financial Penalties Impositionof Sanctions
Imprisonment Damage toCorporate Reputation
