By Chris Prentice
The US Justice Department team tasked with rooting out corporate crime secured $690 million in penalties in 2023, its lowest tally in at least eight years, according to new DOJ data released Thursday.
The department’s Washington D.C. Fraud Section, which focuses on corporate wrongdoing related to healthcare, securities, and foreign bribery, last year brought eight resolutions to settle probes into companies, working with other overseas regulators. While that was one more settlement than in 2022, total fines plunged 68%, falling below $1 billion for the first time since at least 2015, according to a Reuters analysis of data from the agency’s annual report.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
