Bank of America fined $1.2bn for anti-money laundering, sanctions failures
By Samuel Rubenfeld ( October 13, 2026, 20:56 GMT | Insight) -- Bank of America was hit with a $1.2 billion penalty by US Treasury Department's Financial Crimes Enforcement Network over its failure to mitigate and report national security risks. The agency credited $750 million of that amount to the Office of the Comptroller of the Currency, which imposed its own penalty on the bank for an ineffective compliance program. The Office of Foreign Assets Control reached a separate $11.6 million settlement with Bank of America over violations of multiple US sanctions programs.Bank of America was fined more than $1.2 billion by the US Treasury Department on Tuesday over failures in its anti-money laundering and sanctions compliance programs....
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