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

Treasury, FinCEN, OCC and OFAC fine Bank of America $1.2bn+

The Treasury Department, FinCEN and the OCC announced combined penalties of more than $1.21 billion against Bank of America for violating the Bank Secrecy Act and sanctions laws, including failing to timely report over $5 billion in suspicious transactions tied to Chinese money-laundering networks, the southwest border, and 475 apparent sanctions violations involving Iran and Russia. FinCEN assessed $1.2 billion, the OCC added a record $750 million credited toward the total, and OFAC separately settled for $11.6 million.

Treasury, FinCEN, OCC and OFAC fine Bank of America $1.2bn+
x.com

“Today’s actions send a clear message that even the biggest financial institution(s) are not above the law.”

Scott Bessent

Scott BessentScott Bessent U.S. Treasury SecretaryBank of America Fined institution, second-largest U.S. bankBernard Mensah President of International, Bank of AmericaAlastair Borthwick CFO, Bank of AmericaFinCEN / OCC / OFAC U.S. regulators (Treasury's Financial Crimes Enforcement Network, Office of the Comptroller of the Currency, Office of Foreign Assets Control)

The whole story articlesvideospostscomments the bright band is this development · numbered dots are the others · click one to jump

Peak 32 pieces in one hour at Oct 13, 4 PM; 155 pieces over 2 days (92 articles · 1 video · 51 posts · 11 comments) Oct 13, 6 AM — 1 piece · 1 article — Newswires 1Oct 13, 7 AM — quietOct 13, 8 AM — quietOct 13, 9 AM — quietOct 13, 10 AM — 1 piece · 1 article — Newswires 1Oct 13, 11 AM — 13 pieces · 13 articles — Newswires 13Oct 13, 12 PM — quietOct 13, 1 PM — quietOct 13, 2 PM — 1 piece · 1 article — Newswires 1Oct 13, 3 PM — 11 pieces · 9 articles · 2 posts — Newswires 8, Mastodon 2, Google News 1Oct 13, 4 PM — 32 pieces · 15 articles · 17 posts — Newswires 15, Mastodon 6, Bluesky 5, +2 moreOct 13, 5 PM — 8 pieces · 2 articles · 3 posts · 3 comments — Bluesky 3, Reddit 3, Newswires 2Oct 13, 6 PM — 5 pieces · 4 articles · 1 post — Newswires 4, Mastodon 1Oct 13, 7 PM — 7 pieces · 3 articles · 1 video · 3 posts — Newswires 3, Mastodon 2, Hacker News 1, +1 moreOct 13, 8 PM — 3 pieces · 1 article · 2 posts — Mastodon 1, Newswires 1, X 1Oct 13, 9 PM — 18 pieces · 14 articles · 4 posts — Google News 9, Newswires 5, Mastodon 2, +2 moreOct 13, 10 PM — 7 pieces · 1 article · 6 posts — Mastodon 5, Bluesky 1, Newswires 1Oct 13, 11 PM — 3 pieces · 1 post · 2 comments — Reddit 2, Mastodon 1Yesterday, 12 AM — 3 pieces · 3 posts — Mastodon 2, Hacker News 1Yesterday, 1 AM — 5 pieces · 4 articles · 1 post — Google News 2, Newswires 2, Mastodon 1Yesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — 1 piece · 1 article — Newswires 1Yesterday, 5 AM — 3 pieces · 1 article · 2 comments — Reddit 2, Newswires 1Yesterday, 6 AM — 7 pieces · 5 articles · 2 posts — Newswires 4, Mastodon 2, Google News 1Yesterday, 7 AM — 7 pieces · 7 articles — Google News 3, Newswires 3, Mastodon 1Yesterday, 8 AM — 2 pieces · 1 article · 1 post — Google News 1, Mastodon 1Yesterday, 9 AM — 2 pieces · 1 article · 1 post — Mastodon 1, Newswires 1Yesterday, 10 AM — 3 pieces · 2 articles · 1 post — Google News 1, Mastodon 1, Newswires 1Yesterday, 11 AM — 2 pieces · 1 article · 1 post — Google News 1, Mastodon 1Yesterday, 12 PM — 1 piece · 1 post — Bluesky 1Yesterday, 1 PM — 3 pieces · 3 articles — Newswires 3Yesterday, 2 PM — 1 piece · 1 post — Mastodon 1Yesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — 1 piece · 1 comment — Reddit 1Yesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — 1 piece · 1 comment — Reddit 1Yesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — 2 pieces · 1 article · 1 comment — Mastodon 1, Reddit 1Today, 1 AM — quietToday, 2 AM — quietToday, 3 AM — quietToday, 4 AM — quietToday, 5 AM — quietToday, 6 AM — 1 piece · 1 comment — Reddit 1Today, 7 AM — quietToday, 8 AM — quiet 1–456
yesterdaynow · 9:23 AM ET

What was reported 10 claims about this development

  1. first by The San Fernando Valley Sun, 22h ago · also PBS, CNN, SCMP China, SCMP, NY Post, BBC +9

    5 more headlines
  2. first by ABC Australia, 1d ago · also The Hill, WSJ US Business, NYT Business, ZeroHedge, RedState, Anadolu Agency +7

    12 more headlines
  3. first by Euronews.com, 1d ago · also Euronews, Investing.com News, Reuters, The Globe and Mail, South China Morning Post, CNBC +2

    5 more headlines
  4. first by Seeking Alpha, 1d ago · also WSJ Markets, Washington Examiner, Associated Press, NY Post, KTVZ-TV, Axios

    5 more headlines
  5. first by Bloomberg, 2d ago · also American Greatness, CNN, WTTG-TV, The Gateway Pundit, CNBC, Philadelphia Inquirer

    7 more headlines
  6. first by Rio Times, 1d ago · also Seeking Alpha, Yahoo Finance

    2 more headlines
  7. first by The Washington Post, 1d ago · also UPI

    1 more headline
  8. first by NBC News, 1d ago

  9. first by The National UAE, 1d ago

  10. first by AtlasPress News Agency, 1d ago

All 6 developments of Bank of America fined $1.2bn for money-laundering and… →

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