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Polly Sprenger Comments on 2017 Decrease in AML Enforcement Actions

Published in the Association of Certified Anti-Money Laundering Specialists'
Firm News | April 2, 2018

Litigation partner Polly Sprenger was quoted in the Association of Certified Anti-Money Laundering Specialists' (ACAMS) Annual Enforcement Action Survey regarding her views on declining anti-money laundering (AML) enforcement actions in 2017. While the number of US enforcement actions citing individual and institution violations of federal AML rules hit a 10-year low in 2017, the total disbursement of AML regulatory penalties was 10 times that of the previous year. In the United Kingdom, however, the number of AML cases brought by regulators did not substantially differ from 2016. "Americans go heavy on enforcement and light on regulation, while in the United Kingdom they are heavy on regulation and light on enforcement," said Polly. "If you understand that cultural difference, it goes some way to explaining why there are more enforcement actions in the US than in the UK."

Read "AML Enforcement Actions Hit Bottom in 2017" in its entirety.

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