Bank of America fined $1.2bn for money-laundering failures

AI-generated briefing · First published 2026-10-14 09:55:55 UTC

US regulators fined Bank of America $1.2bn for failing to report over $5bn in suspicious transactions, including $1bn tied to national-security risks.

US regulators fined Bank of America $1.2bn for failing to report more than $5bn in suspicious transactions, including over $1bn linked to national-security risks such as suspected Chinese money-laundering networks and activity near the southwest border. [1] [2] [3] [4] [5] [6]

The Treasury called the fine its third-largest ever; the OCC levied a record $750m and OFAC added an $11.6m sanctions settlement. The bank admitted willful violations of the Bank Secrecy Act and will hire an independent reviewer for past transactions. [1] [2] [4] [5] [6]

Bank of America said it has invested billions in compliance and will book a non-tax-deductible $1.2bn charge that cuts third-quarter EPS by about 17 cents; shares fell more than 2% after hours. [1] [2] [5] [6]

Sources

1. Bank of America fined $1.2bn over money laundering failures

   FT Markets · 2026-10-13 20:00:06 UTC · Summary only

2. 美国银行涉嫌洗钱违规 被罚款12亿美元 盘后跌超2%

   Sina Finance · 2026-10-13 20:45:36 UTC · Full text

3. 10月14日外盘头条：英伟达对欧追加20亿美元投资 美光海力士股价大跌 美银涉嫌洗钱违规被罚12亿美元

   Sina Finance · 2026-10-13 21:30:09 UTC · Full text

4. 美国银行因反洗钱合规疏漏面临12亿美元罚款

   Sina Finance · 2026-10-13 22:55:44 UTC · Full text

5. Bank of America fined US$1.2bn

   RTHK Finance · 2026-10-14 00:09:30 UTC · Excerpt

6. Bank of America hit with $1.2bn fine for money laundering failings

   BBC Business · 2026-10-14 02:05:32 UTC · Full text

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