Breakdown of Global Bank Fines

According to data from Finbold, U.S. authorities imposed $4.08 billion in penalties—representing 90.67% of the global total—across 19 cases.

TD Bank alone was responsible for $3.09 billion in fines following a multi-agency investigation into weak controls that allowed its U.S. subsidiary to facilitate money laundering.

JPMorgan Chase received the second-largest fine, amounting to $348.2 million, for failing to implement an adequate monitoring system to detect market misconduct in firm and client trading activities.

The UK ranked second in total fines, issuing 10 penalties totaling $261.7 million. British and Swedish regulators also imposed the largest individual fines outside the U.S.

• UK: In January 2024, the Prudential Regulation Authority fined HSBC $74.12 million for failing to ensure depositor protection.
• Sweden: Later in the year, Klarna Bank AB was fined $46 million for anti-money laundering (AML) violations.

Disproportionate Share of U.S. Fines?

Report co-author Andreja Stojanovic commented: “While the U.S. accounts for an overwhelming share of total fine value, its proportion of individual fines—33% (19 out of 57 total cases)—seems more balanced. Given that the country has over 4,000 banks, one could argue its share is even conservative.