AML Penalties Continue to Grow

Encompass Corporation is a Know Your Customer (KYC) solutions firm; for 2019 they found that there were 58 AML-related breaches globally with the US accounting for 25 fines totaling $2.29 billion; the UK had 12 penalties totaling $388.4 million; the number of AML penalties continue to steadily rise each year and in some cases the penalty amounts are reaching over $1 billion; interestingly under half of those penalties issued in 2019 were to banks, a decrease from 2018; it is expected that new directives in the EU will increase penalties into 2020 and beyond. Finextra

  • With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.