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The first half of 2020 is already showing soaring fines for compliance failures at financial services firms, according to a new report.
Penalties assessed against financial institutions for non-compliance with anti-money laundering (AML), know your customer (KYC), and sanctions regulations totaled $5.6 billion by the end of July 2020, according to a mid-year report from a well-known fintech provider. That provider, Fenergo, founded in 2008, characterizes itself as a “digital enabler of client and regulatory technology for...
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