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Bank of America Faces $1.2 Billion FinCEN Penalty Over AML Failures
The US Financial Crimes Enforcement Network (FinCEN) has assessed a $1.2 billion civil money penalty against Bank of America, N.A., over violations of anti-money laundering requirements, including failures to investigate suspicious activity and submit timely reports to authorities. Announced on October 13, 2026, the action was coordinated with the Office of the Comptroller of the Currency (OCC), which imposed a separate $750 million civil money penalty, and the Office of Fore
5 hours ago4 min read
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