The Bank Fines 2020 report reveals the list of banks that faced the biggest fines in 2020

The Bank Fines 2020 report reveals the list of banks that faced the biggest fines in 2020 on a Year-to-Date (YTD) basis. Fines were imposed by regulators for breaches of different protocols like Anti-Money Laundering (AML), violation of Know Your Customer (KYC) and operating guidelines, personal data leaks, among others.

Key findings

• Total aggregated bank fines in 2020 = €11.87B
• The largest fine was issued to Goldman Sachs = €3.3B
• U.S. has the most separate banks fined = 8
• The most common violation = Anti-money laundering breaches

Bank Fines Ranked

Rank	Country	Bank	Fine	Source
1	US	Goldman Sachs	€3.30B	Source
2	US	Wells Fargo	€2.53B	Source
3	US	Goldman Sachs	€1.69B	Source
4	US	JPMorgan Chase	€777.93M	Source
5	Australia	Westpac	€770.00M	Source
6	Israel	Bank Hapoalim	€762.97M	Source
7	Sweden	Swedbank	€360.00M	Source
8	US	Citigroup	€340.17M	Source
9	US	Goldman Sachs	€296.03M	Source
10	US	JPMorgan Chase	€205.41M	Source
11	Germany	Deutsche Bank	€126.52M	Source
12	Canada	Scotiabank	€107.68M	Source
13	US	The Cherry Hill (U.S. Subsidiary of TD Bank Group)	€103.09M	Source
14	Sweden	SEB bank	€96.18M	Source
15	UK	Lloyds Banking Group	€70.15M	Source
16	US	Capital One	€67.54M	Source
17	China	People’s Bank of China	€45.51M	Source
18	Germany	Commerzbank	€41.38M	Source
19	Iran	Future Bank (operating under the supervision of Bank Melli Iran and Bank Saderat)	€31.30M	Source
20	UK	Barclays	€28.30M	Source
21	UK	Standard Chartered	€22.37M	Source
22	Turkey	Akbank	€18.58M	Source
23	Germany	Deutsche Bank	€13.50M	Source
24	UK	Standard Chartered	€11.48M	Source
25	US	Bank of America	€6.80M	Source
26	China	Agricultural Bank of China	€6.51M	Source
27	China	Bank of China	€6.35M	Source
28	Spain	Bankinter	€5.20M	Source
29	China	China Construction Bank Corp.	€4.89M	Source
30	China	The Bank of East Asia	€3.55M	Source
31	Keyna	5 Kenya’s banks (KCB Group, Equity, Co-op Bank Kenya, StanChart Kenya and Diamond Trust)	€3.17M	Source
32	China	Bank of Communications	€2.53M	Source
33	Poland	Idea Bank	€2.20M	Source
34	Morocco	Bank of Africa	€1.67M	Source
35	Ireland	Bank of Ireland	€1.66M	Source
36	US	State Street bank	€1.20M	Source
37	Demark	Danske Bank	€1.15M	Source
38	Germany	Deutsche Bank	€1.11M	Source
39	Latvia	Signet Bank	€0.91M	Source
40	China	China Construction Bank	€0.85M	Source
41	Italy	UniCredit	€0.60M	Source
42	Iceland	Arion Bank	€0.54M	Source

Article credit: https://finbold.com/bank-fines-2020/