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.

The top ten banks with the biggest fines imposed by the regulators:

Rank
Bank
Country
Total Fine in Billion $USD

1 Goldman Sachs
US $3.97

2 Wells Fargo
US $2.96

3 Westpac
Australia $0.9

4 Bank Hapoalim
Israel $0.89

5 Swedbank
Sweden $0.42

6 Citigroup
US $0.39

7 Deutsche Bank
Germany $0.14

8 Scotiabank
Canada $0.12

9 TD Bank
US $0.12

10 SEB bank
Sweden $0.11

Other key findings from this report include:

Global banks fined $10.54 billion in 2020 YTD

The US banks racked up $7.61 billion in fines in 2020, 72.2% of $10.54 billion of all banking fines globally

In the US, seven separate banks were fined

The most common violation is Anti-money laundering breaches
In total, over 30 banks globally were fined with a bigger than 500k EUR fine in 2020 YTD.