his week’s OSIN presents US AML Enforcement Rebounded in 2022

In 2022, U.S. federal agencies, including the OCC, FinCEN, FDIC, and Federal Reserve, saw a moderate rebound in anti-money laundering (AML) enforcement actions compared to 2021. Despite an increase in AML-related enforcement, the aggregate value of penalties decreased. These agencies finalized 19 AML-related actions, almost doubling 2021’s count but still below 2020’s. Notably, eight of these actions resulted in combined penalties of USD 384 million, lower than 2021’s USD 403 million for six actions and 2020’s USD 233 million for 20 actions. Some significant cases included penalties against USAA Federal Savings Bank and the National Bank of Pakistan. Additionally, other regulatory violations, sanctions, and obligations decreased. The DFS also fined entities for AML and cybersecurity violations, reflecting shifting priorities.