# US fines Bank of America $1.2bn over money laundering and sanctions violations

https://mins.news/en/item/98954

- Al Jazeera, 2026-10-14 01:15 UTC
- Economy
- Original: https://www.aljazeera.com/news/2026/10/14/us-fines-bank-of-america-1-2bn-for-money-laundering-sanctions-violations?traffic_source=rss

> The US Treasury imposed more than $1.21bn in penalties on Bank of America for violating anti-money laundering and sanctions laws. FinCEN’s $1.2bn penalty covers failures including not reporting more than $5bn in suspicious transactions on time. The OCC also imposed a record $750m fine, while OFAC reached an $11.6m settlement over apparent sanctions violations.

## Related coverage

- [Moynihan Says Bank of America Is Accountable Amid Fines](https://mins.news/en/video/100682) — Bloomberg Television, 2026-10-15
- [BofA misses profit estimates as capital markets weaken; books $1.2 billion charge](https://mins.news/en/item/99629) — Reuters, 2026-10-14
- [US fines Bank of America $1.2 billion over alleged money laundering and sanctions violations](https://mins.news/en/item/98763) — ABC News, 2026-10-13
- [US fines Bank of America $1.2 billion over alleged money laundering and sanctions violations](https://mins.news/en/item/98667) — The Associated Press, 2026-10-13