Davis Polk AML/CFT head Dan Stipano was quoted in the Financial Times discussing AML enforcement trends.

The article noted that U.S. regulators collected 61% less in fines for money laundering and sanction breaches in 2025.

“There has definitely been a decrease in the number and magnitude of AML-based enforcement actions in the U.S. during the past year,” Dan said.

“To a large extent I believe this has been policy-driven,” he added, noting that the 2024 figure was skewed by a single money-laundering case.

“US fines for dirty money drop 61% as Trump retreats from enforcement,” Financial Times (December 31, 2025) (subscription required)

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