Agency.According to data compiled by Boston Consulting Group, the banks globally have paid $321 billion in fines since 2008 financial crisis for regulatory failings from money laundering to market manipulation and terrorists financing.The figure is set to increase higher as European and Asian regulators take action similar to that of their aggressive US peers who have imposed the majority of charges till date as per the seventh annual study of the industry published by BCG on Thursday. The data showed that in 2016 alone,banks paid $42 billion in fines which is a 68 percent rise over previous year.
