Zenoo Compliance Brief
AML spending hits $206bn as fines double down on monitoring failures
Plus, BIS imposes $252m penalty on Applied Materials for China..., OFAC penalises State Street $7.5m over Russian sanctions breaches, FinCEN Orders U.S. Banks to Sever Huione Group Correspondent....
7 April 2026 · 4 min read
The numbers are getting harder to ignore. Organizations are throwing $206 billion annually at AML and fraud programmes while $3 trillion in illicit money still flows through the system. Regulators collected $4.5 billion in fines last year, with transaction monitoring failures the primary target. That's driving a hard pivot to AI-driven solutions across the sector. We've also got three fresh enforcement actions that landed overnight, all pointing to persistent gaps in export controls, sanctions screening, and correspondent banking discipline.
In this edition
- The industry spent $206 billion fighting financial crime and $3 trillion still walked through the front door.
- Applied Materials built the machines that build the chips, then shipped them where they shouldn't go.
- State Street custodies $46 trillion in assets but couldn't stop payments to sanctioned Russians.
- FinCEN just took Huione Group out at the knees, no fine, no hearing, no exit ramp.
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