Top 14 Biggest AML Fines of All Time (Updated for 2025)

What Are AML Fines?

Anti-Money Laundering (AML) fines are financial penalties imposed by regulatory authorities on organizations or individuals if they fail to meet AML compliance requirements. These fines serve as monetary punishment and formal warnings.

When Are AML Fines Issued?

AML fines are typically imposed when an organization fails to meet essential compliance standards. Common triggers are as follows:

• Poor customer due diligence (CDD) or weak Know Your Customer (KYC) procedures
• Lack of effective transaction monitoring systems
• Delays or failures in submitting Suspicious Activity Reports (SARs)
• Conducting business with sanctioned individuals or entities
• Ignoring previously identified compliance gaps flagged by regulators

The financial penalties can range from thousands to billions of dollars, depending on the severity of the violation and the industry involved. However, the consequences often extend far beyond monetary loss. Organizations may suffer serious reputational damage, lose the trust of customers and partners, and in some cases, face criminal liability for major compliance failures.

Why Are AML Fines Issued?

AML fines are issued to strengthen accountability, deter misconduct, and preserve the integrity of the global financial system. Regulators use fines as punishment and deterrent when institutions fail to identify and report suspicious activity, therefore enabling severe crimes like money laundering, terrorism financing, fraud, and sanctions evasion.

Major goals of AML enforcement through fines:

• To ensure institutions implement AML and counter-terrorism financing (CTF) controls
• To hold senior management accountable for compliance failures
• To send a clear message that non-compliance will not be tolerated
• To protect national and global financial systems from criminal activities
• To promote transparency and ethical financial practices

As AML regulations evolve, particularly with emerging threats like crypto-enabled laundering and trade-based money laundering, regulators are becoming more aggressive in imposing penalties.

Common Reasons for AML Penalties

Regulatory agencies issue AML fines for a variety of compliance failures. Common reasons are as follows:

• KYC Failures: Inadequate customer onboarding processes, missing identity verification, or insufficient risk profiling
• Weak Transaction Monitoring: Inability to detect suspicious transactions in real-time due to the use of insufficient tools
• Neglected SAR Filings: Failing to file Suspicious Activity Reports (SARs), or submitting them late or incomplete
• High-Risk Customer Onboarding: Doing business with high-risk individuals or clients in sanctioned jurisdictions without controls
• Compliance Culture Lapses: Treating AML programs as an afterthought, leading to systemic breakdowns

The 14 Biggest AML Fines in History

1. BNP Paribas – $8.9 Billion Fine (2014)

BNP Paribas holds the record for the largest AML fine ever imposed. U.S. authorities discovered that the French bank was involved in more than $30 billion of prohibited transactions with countries under U.S. sanctions, primarily Sudan, Iran, and Cuba. The bank deliberately removed identifying information from wire transfers to avoid U.S. detection systems, which violated economic sanctions and AML regulations. The scale, sophistication, and intentional nature of the illegal activity led to a fine that reset global compliance standards. BNP was also temporarily excluded from certain USD currency operations, which caused long-term reputational damage.

2. Goldman Sachs – $2.9 Billion Fine (2020)

Goldman Sachs faced one of the largest AML-related penalties in history as it was involved in the 1MDB scandal. The case centered on the misuse of Malaysia’s sovereign wealth fund, from which approximately $4.5 billion was embezzled. Goldman Sachs bankers helped arrange over $6 billion in bond sales, with significant portions of the proceeds funneled into bribes, luxury assets, and even high-profile films such as The Wolf of Wall Street.

Regulatory agencies in the U.S., UK, and Malaysia jointly imposed a $2.9 billion fine. This case highlighted how lapses in due diligence and internal oversight, even at a globally respected institution, can lead to massive corruption and financial crime.

3. Danske Bank – Over $2 Billion Fine (2022)

Danske Bank’s Estonian branch became the focus of a money laundering investigation after it was revealed that over $200 billion (According to the Reuters) in suspicious transactions had flowed through the bank between 2007 and 2015. The transactions were conducted with clients from Russia and Azerbaijan. Despite numerous warning signs, the bank did not conduct Enhanced Due Diligence (EDD) and neglected to file required Suspicious Activity Reports (SARs). The case was revealed by whistleblowers and led to significant changes at the bank and became a turning point for stricter AML enforcement across the Nordic region.

4. HSBC – $1.9 Billion Fine (2012)

HSBC was penalized $1.9 billion for its involvement in money laundering activities tied to Mexican and Colombian drug cartels. U.S. authorities uncovered that the bank failed to detect and stop criminal proceedings that were worth $881 million. Further investigations revealed that HSBC’s U.S. operations did not have advanced transaction monitoring, especially in high-risk regions. What is more, the financial institution ignored repeated warnings from its own compliance staff. Additionally, the bank processed prohibited transactions for sanctioned entities in Iran. 

As a result of this, HSBC had to set up an independent compliance monitoring system and make significant changes to its global risk management framework. This case was a wake-up call for the industry, emphasizing the dangers of weak compliance in high-risk environments.

5. UBS – $1.4 Billion Fine (2023)

In 2023, UBS was fined $1.4 billion for systemic failures in its anti-money laundering controls, particularly when dealing with clients from high-risk jurisdictions. Regulatory bodies revealed the fact that UBS neglected to detect beneficial ownership and maintain effective risk scoring systems. The fine reflected years of compliance negligence, during which internal warnings were overlooked and critical red flags went undetected. This case highlighted that even globally prominent banks such as UBS can face serious penalties if they do not strengthen their detection systems in high-risk markets.

6. Westpac – $920 Million AUD Fine (2020)

Westpac, one of Australia’s largest banks, was fined 920 million Australian dollars after AUSTRAC identified over 23 million breaches of anti-money laundering laws. Some of these breaches were linked to transactions involving child exploitation networks, which heightened the severity of the case.

The bank failed to report billions in international transfers and maintained insufficient due diligence in its banking relationships. The case caused reforms across all financial sectors in Australia and called for recognition in AML and Counter-Terrorism Financing (CTF) compliance.

7. Deutsche Bank – $630 Million Fine (2017)

Deutsche Bank was fined for facilitating a “mirror trading” scheme that allowed approximately $10 billion in illicit funds to exit Russia without detection. The bank’s Moscow branch helped Russian clients buy securities in rubles, while its London branch simultaneously sold identical assets in U.S. dollars. These coordinated trades were not detected due to serious security gaps in the bank’s AML systems. The case became a central example in EU discussions on improving cross-border financial crime controls.

8. Credit Suisse – $475 Million Fine (2021)

Credit Suisse was fined for its role in the “Tuna Bond” scandal, where the bank was involved in over $1 billion in loans to Mozambique for maritime projects. The funds were misused for corrupt deals and bribes. AML protocols were ignored and manipulated. Additionally, compliance teams were misled internally. The case led to Mozambique’s economic crisis and a freeze on international aid, which demonstrates the global consequences of AML failures.

9. Rabobank – $368 Million Fine (2018)

Rabobank’s U.S. branches were used by Mexican drug cartels to launder illicit funds along the California border. The bank failed to act on internal warnings and neglected to improve its monitoring systems. It caused a federal investigation, which significantly increased the penalty. The case showed that lack of working with regulators can be as damaging as the original compliance failures.

10. Swedbank – €347 Million Fine (2020)

Swedbank was fined after €4 billion in suspicious transactions flowed through its Baltic branches without proper monitoring. Investigations showed that AML failures extended to the executive level. The scandal led to widespread resignations and revealed how insufficient controls can cause systemic financial crime risks.

11. SEB Bank – €107 Million Fine (2020)

SEB Bank, another major Swedish institution, faced penalties for similar AML failures in Estonia, Latvia, and Lithuania. The bank lacked consistent controls, staff training, and cross-border risk analysis. Regulators concluded that SEB failed to apply AML standards or act on known risk factors, which reinforces the importance of full compliance across jurisdictions.

12. BitMEX – $100 Million Fine (2021)

The crypto exchange BitMEX received a massive fine as it operated without essential KYC and AML requirements. Users were able to trade anonymously, exposing the platform to abuse by criminal actors. U.S. authorities highlighted that crypto firms are required to follow the same AML rules as traditional financial institutions. This case was a turning point in regulatory analysis of digital asset platforms.

13. Commonwealth Bank of Australia – A$700 Million Fine (2018)

Commonwealth Bank was fined for over 53,000 AML breaches, including failure to report large cash deposits and insufficient transaction monitoring. The scale of the violations made AUSTRAC take enforcement action. This penalty served as a defining moment for AML compliance in Australia, setting a high standard for accountability.

Sector Breakdown: Who Faces the Most AML Fines?

Anti-Money Laundering (AML) enforcement actions have increased in terms of the number of cases and the size of the penalties. While banks remain the primary focus of regulators, enforcement has expanded to include other high-risk industries such as cryptocurrency platforms, online gambling operators, and fintech companies.

1. Banking Institutions: Still the Primary Target

Traditional banks have the largest share of AML fines, both in volume and severity. In 2025 alone, global regulators issued more than $3.5 billion in AML-related penalties against banks, which is equal to more than 65% of that year’s total enforcement actions.

Why are banks more affected?

• Complex global operations: Large-scale, cross-border banking activities often rely on outdated systems, which can create blind spots when monitoring transactions effectively.
• Weak due diligence practices: Many banks still struggle to create solid Know Your Customer (KYC) and Enhanced Due Diligence (EDD) structures, especially in higher-risk regions.
• Repeated failures to comply: Institutions that ignore or delay regulatory advancement processes are often hit with higher fines.

2. Cryptocurrency Exchanges: Increasingly Under the Regulatory Spotlight

As cryptocurrency adoption continues to grow, it is increasingly more monitored by regulators. In 2025, crypto exchanges faced more than $1 billion in AML-related fines, a record figure that highlights authorities’ increasing efforts to detect compliance gaps in the digital asset sector.

What are the Key Compliance Challenges?

• Insufficient Identity Verification: Many platforms, like BitMEX, allow users to trade without proper Know Your Customer (KYC) checks during onboarding, which can cause serious issues.
• Anonymity Tools: The use of mixers, tumblers, and privacy coins makes it harder to trace transactions, raising red flags for potential money laundering or illicit activity.
• Global Operations, Fragmented Regulations: Many crypto firms operate across borders but face inconsistent AML analysis. This regulatory fragmentation often leads to regulatory arbitrage, where companies exploit jurisdictional gaps.

As enforcement continues to evolve, crypto platforms are under increasing pressure to adopt the same strict AML standards expected of traditional financial institutions.

3. Gambling and Gaming Operators: Vulnerable Industries

Gambling both online and land-based is a high-risk sector for money laundering as individuals or entities are involved in large amounts of transactions with anonymity. In 2025, gambling and gaming operators were hit with over $650 million in AML-related fines globally, which marked a significant increase from previous years.

What are the Key Risk Factors?

• Use of cash equivalents such as chips, prepaid cards, and vouchers, which makes transactions difficult to trace.
• Inadequate identification of the source of funds, especially with international high-stakes players.
• Weak reporting controls and insufficient due diligence around player behavior and limits.

4. FinTechs and Payment Service Providers: Under Scrutiny

The rapid growth of fintech platforms and digital payment services has attracted increased regulatory scrutiny. In 2025, the sector faced more than $2 billion in AML fines, which highlights regulators’ growing concerns over compliance gaps in emerging financial technologies.

Why Does the Sector Remain High-Risk?

• Accelerated onboarding processes that often lack advanced KYC verification.
• Global expansion that exceeds the maturity of internal compliance systems.
• Limited integration of real-time transaction monitoring in app-based and other finance platforms.

Regulatory Outlook: Authorities are now holding fintechs and payment providers to the same AML standards as traditional banks, particularly in areas like cross-border transfers, Buy Now Pay Later (BNPL) services, and digital wallets.

Global Regulatory Authorities Behind AML Enforcement

Anti-Money Laundering (AML) enforcement is a coordinated global effort, with leading regulatory bodies in each region. It ensures financial transparency and prevents the misuse of financial systems for illicit activities. These authorities create and maintain rigorous standards, requiring businesses to implement effective compliance programs and report suspicious behavior. Our team has analyzed some of the key players below:

FinCEN (United States): The Financial Crimes Enforcement Network supervises AML compliance for U.S. financial institutions. It plays a central role in monitoring suspicious activity and imposing regulations. The goal here is to protect the integrity of the financial system.

FCA (United Kingdom): The Financial Conduct Authority ensures that firms operating in the U.K. maintain strong AML controls. Its focus is on transparency, customer due diligence, and managing financial crime risks.

MAS (Singapore): The Monetary Authority of Singapore enforces some of the region’s strictest AML standards. As a global financial hub, Singapore relies on MAS to maintain its reputation.

BaFin (Germany): Germany’s Federal Financial Supervisory Authority (BaFin) monitors compliance with AML and Counter-Terrorism Financing (CTF) regulations. It emphasizes the importance of internal controls, reporting obligations, and risk-based assessments.

AUSTRAC (Australia): The Australian Transaction Reports and Analysis Centre adopts a data-driven approach to AML enforcement. It requires financial institutions to report suspicious transactions and supports proactive risk detection through intelligence sharing and analytics.

How Are AML Fines Calculated?

Anti-Money Laundering (AML) fines are far from arbitrary. Regulators consider a range of factors when determining the size and severity of a penalty. Each case is carefully assessed to ensure that the fine serves as both a punishment and a deterrent—encouraging stronger compliance across the financial sector.

What are the Key Factors That Influence AML Fine Amounts?

• Level of Negligence or Intentional Misconduct: Fines are significantly higher when an institution is found to have willfully ignored red flags or compliance rules. An example is BNP Paribas, which was fined $8.9 billion in 2014 for deliberately enabling transaction data to avoid U.S. sanctions.
• Volume and Value of Transactions: The number and size of suspicious transactions directly impact the fine. For instance, Danske Bank processed more than $200 billion in suspicious cross-border transfers, which resulted in a multibillion-dollar fine.
• Duration of the Violations: Ongoing misconduct is considered a sign of systemic failure. In the Goldman Sachs 1MDB case, the violations continued for several years, which increased the institution’s liability and resulted in a $2.9 billion settlement.
• Repeat Offenses and Unresolved Deficiencies: Institutions that ignore prior warnings or fail to correct previously identified issues face severe penalties. Standard Chartered, for example, was fined multiple times over the years for recurring compliance breaches.
• Cooperation with Investigators: Entities that are transparent and cooperative during investigations may benefit from reduced fines or alternative enforcement actions. On the other hand, those that mislead regulators often face maximum penalties.
• Broader Social or National Security Impact: When AML failures enable serious crimes such as drug trafficking, terrorism financing, or child exploitation, regulators take a much harsher stance. The direct harm to society in these cases are subject to heavier enforcement measures

Which Countries Issue the Most AML Fines?

Anti-Money Laundering (AML) enforcement varies across the globe. While some countries adopt a more reactive approach, others take a zero-tolerance stance, using financial penalties as a key tool to strengthen accountability and compliance. Below, our team has mentioned countries leading the charge in AML enforcement.

Top Countries Issuing the Highest AML Fines

United States (FinCEN, OFAC, DOJ): The U.S. remains the global leader in AML enforcement, both in the number and total value of fines. Between 2012 and 2024, U.S. regulators issued more than $16 billion in AML-related penalties. Agencies like FinCEN, OFAC, and the Department of Justice (DOJ) aggressively pursue cases involving sanctions violations, drug trafficking, and terrorist financing, often targeting both domestic institutions and international banks operating in U.S. jurisdiction.

United Kingdom (FCA, HM Treasury): The Financial Conduct Authority (FCA) plays a central role in the UK’s increasing interest in AML enforcement. For example, Standard Chartered was recently imposed a $1.1 billion fine. NatWest was also punished by a £264 million penalty as it failed to detect cash deposits made in garbage bags. These actions demonstrate the UK's tough stance on due diligence and customer verification.

Australia (AUSTRAC): AUSTRAC, Australia’s financial intelligence has grown sharply. This was highlighted by the AU$920 million fine imposed on Westpac and AU$700 million penalty against Commonwealth Bank. These cases defined the strict standards for AML compliance in the Asia-Pacific region.

Germany (BaFin): BaFin has strengthened AML enforcement after high-profile scandals like Wirecard. It now works closely with EU authorities to monitor financial institutions, especially digital banks and fintech firms with a focus on improving AML controls and transparency.

Singapore (MAS): The Monetary Authority of Singapore (MAS) enforces robust AML/CTF guidelines to protect the integrity of one of Asia’s largest financial centers. While financial penalties are generally lower in volume, MAS complements enforcement with reputational disclosures, tighter licensing conditions, and public warnings, ensuring non-compliance carries serious consequences.

How to Avoid AML Fines?

Regulatory fines can run into the millions and even more costly is the damage to your reputation and client trust. Here’s how organizations can protect themselves:

• Build a risk-based AML program aligned with FATF recommendations and local regulations.
• Conduct thorough Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) where applicable.
• Implement real-time transaction monitoring and red flag detection tools.
• Maintain detailed audit trails and regularly screen for sanctions and politically exposed persons (PEPs).
• Train your teams regularly and keep your policies updated as regulations evolve.

Even in 2025, the majority of AML penalties stem not from intentional misconduct, but from weak internal controls, outdated systems, and lack of automation. Strengthening your compliance infrastructure now is the most effective way to avoid enforcement tomorrow.

How Can Sanction Scanner Help?

Sanction Scanner empowers organizations to streamline and enhance their AML compliance programs with flexible, API-driven solutions designed for modern risk environments. Whether you are a fintech, crypto platform, or a traditional financial institution, our tools help you stay compliant, efficient, and audit-ready.

Here’s how Sanction Scanner supports your compliance journey:

• Global Sanctions & PEP Screening: Instantly screen individuals and entities against international sanctions and politically exposed persons (PEP) lists, updated daily to ensure accuracy.
• Real-Time Transaction Monitoring: Monitor all transactions with our advanced tools that are adapted to your business needs.
• Adverse Media Screening: Identify reputational risks by scanning global news sources for negative media.
• Ongoing Customer Monitoring: Track changes in customer status or behavior.
• Audit-Ready Reporting: Generate clear, structured reports and dashboards that make regulatory reviews and internal audits more efficient and transparent.

By reducing false positives and automating manual tasks, Sanction Scanner not only improves operational efficiency but also helps you stay ahead of evolving regulatory expectations with confidence.

Ready to strengthen your compliance tools?

Request a demo today with Sanction Scanner and our team will provide you with full compliance at speed and 100% accuracy.