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Banks Globally Have Paid $321 Billion in Fines since 2008

Banks Globally Have Paid $321 Billion in Fines since 2008

Banks globally have paid $321 billion in fines since the financial crisis due to failings from money laundering and terrorist financing. Boston Consulting Group has shown that banks paid $42 billion in fine in 2016 alone, a 68% rise on the previous year.

“Boston Consulting Group has shown that banks paid $42 billion in fine in 2016 alone, a 68% rise on the previous year. “

~ Bloomberg

That tally is set to increase in the coming years as European and Asian regulators catch up with their U.S. peers, who have levied the majority of charges to date. Managing those costs will continue to be a major task for banks.

Related Reports: Bloomberg, Reuters

 


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