The US Treasury fined Bank of America $1.2B for the money laundering failures and the lapses in its reporting systems. The enforcement action follows a determination that the bank failed to properly identify and flag the transactions in accordance with anti-money laundering requirements.
Wednesday, October 21, 2026
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US Treasury Fines Bank of America $1.2B for Money Laundering
Business7 days ago
More than $5 billion in suspicious movements of funds went unreported by a major US financial institution, triggering a regulatory penalty for sanctions violations. This failure to document high-volume transactions violated federal laws regarding the reporting of potential criminal activity to the government.
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