Mar
02
World’s Biggest Banks Fined $321 Billion Since Financial Crisis
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European, Asian regulators to step up pace of fines, BCG says
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Regulation to keep increasing despite Trump, consultancy says
Banks globally have paid $321 billion in fines since 2008 for an abundance of regulatory failings from money laundering to market manipulation and terrorist financing, according to data from Boston Consulting Group.
That tally is set to increase in the coming years as European and Asian regulators catch up with their more aggressive U.S. peers, who have levied the majority of charges to date, BCG said in its seventh annual study of the industry published Thursday. Banks paid $42 billion in fines in 2016 alone, a 68 percent rise on the previous year, the data showed…
World’s Biggest Banks Fined $321 Billion Since Financial Crisis
