Global AML Enforcement: 2024 Year-End Review
About this episode
A 2024 year-end review of regulatory enforcement highlights a sharp rise in global fines, totalling $25 billion, primarily due to increased scrutiny of financial institutions and virtual asset service providers (VASPs). Europe led in the number of enforcement actions, while the United States imposed the largest single fine. The report underscores intensifying focus on fraud prevention, sanctions evasion, and AML compliance weaknesses, particularly concerning cryptocurrency, with expectations of further increases in 2025. Key areas of concern included inadequate customer due diligence and deficiencies in anti-money laundering systems.
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