In the US, the collateral consequences of noncompliance with AML laws and regulations may include seizure and forfeiture of funds.  Depository institutions may also be subject to restrictions on growth and expansion and may even have their charters and licenses revoked.

In the UK, confiscation proceedings to disgorge the proceeds of crime would likely follow any conviction, whether of an individual or a company.  A corporate entity convicted of an offense could also face debarment from public contracts under the Public Contracts Regulations 2015.

A person in the regulated sector who contravenes a requirement imposed under the Money Laundering Regulations 2017 is also guilty of a criminal offense, and could receive a sentence of up to two years’ imprisonment, or a fine, or both.

Regulatory sanctions that could be imposed on a company by a supervisory authority such as the FCA include a financial penalty and/or a restriction on the firm’s ability to carry out regulated activities, such as a ban on accepting deposits from new customers for a certain period of time.

Regulatory sanctions that could be imposed on an individual in the regulated sector include a financial penalty, suspension, and a prohibition from performing functions related to regulated activities.


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