Bank of America fined $1.2bn for money-laundering and sanctions failures
Treasury, FinCEN, OCC and OFAC hit the bank with a record-tier penalty for failing to report over $5bn in suspicious transactions, including Chinese money-laundering activity.
What to know
- Combined penalties exceed $1.21 billion: FinCEN's $1.2bn, a record $750 million OCC fine, and an $11.6 million OFAC settlement, together the third-largest Treasury/FinCEN action in history.
- Regulators say Bank of America failed to timely report over $5 billion in suspicious transactions, including over $1 billion tied to Chinese money-laundering networks and illicit finance along the southwest border, plus 475 apparent sanctions violations involving Iran and Russia.
- Unlike the comparable Binance and TD Bank penalties, there is no accompanying Justice Department criminal action against Bank of America.
- The charge cut directly into Bank of America's third-quarter results, pushing EPS below analyst forecasts and sending shares down about 7.5%.
The dispute Whether the fine represents genuine, consistent enforcement or politically selective action given the administration's own sanctions-related controversies. · positions read across 28 posts and comments
It is hypocritical for the Trump administration to punish a bank for sanctions violations while itself facing accusations of skirting sanctions.
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“Trump's USTreasury Department is imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws....hold on...hold on....😂 I can't even finish the sentence 😂 this is so rich.”
girlsreallyrule.bsky.social · Bluesky ↗
Fines like this are symbolic and won't actually deter big banks or change their behavior.
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“TD Bank got hit with money laundering fines and restrictions on its US business. The stock is up 100% since then and profits are rolling in. None of this shit matters.”
Unarmed_Character · Reddit ↗
The case highlights a double standard where ordinary people face harsh drug-enforcement scrutiny while banks facilitate laundering with light consequences.
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“This is exactly why the whole “War on Drugs” has been a joke from the start. Everyday people get harassed , arrested and jailed, and we all give up normal privacy, while the banks have been facilitating money laundry all along.”
IGotFancyPants · Reddit ↗
This is most likely a compliance/detection failure rather than active bank complicity, but the bank is still accountable for its controls.
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“Work in market infrastructure, 99% of the time this is the bank failing to detect money laundering, as opposed to being actively involved in it. No excuse for not picking it up with compliance and controls, for which banks are held…”
kdailyone · Reddit ↗
Scott 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)
How it unfolded 6 developments, newest first · click a bar or a number to jump articlesvideospostscomments
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Bank of America's Q3 profit falls 17% as fine hits earnings
Reporting third-quarter earnings a day after the fine, Bank of America posted $6.9 billion in profit, down about 17% year over year, with EPS of $0.91 versus the $1.08 it said it would have posted without the $1.2 billion charge, missing analyst forecasts of $1.10. Shares sank about 7.5% after the opening bell.
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1 outlet first by Fast Company, 22h ago · read ↗
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first by CNBC, 1d ago
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The U.S. Treasury Department said Tuesday that it's imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws.
2 more of the top 3 · 6 posts in this stretch
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# BankOfAmerica is fined $1.21 billion for "money laundering and other illicit activity". Sounds like a lot, right? Now consider they are currently spending $6 billion a quarter on stock buybacks. That's $24 billion a year. This is not even a slap on the wrist, although it is the "third largest fine in US treasury’s history". Could we start…
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If the people of this country could understand that we might finally see some change! But No! It’s all pervert orange man or sleepy Joe has dementia when it should be DC is not representing the people they only work for them, friends and corporations! Edit-themselves not them
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BofA executive Bernard Mensah defends compliance efforts in Bangkok
Speaking to CNN's Richard Quest at a panel in Bangkok, Bank of America's president of international said the bank takes financial crimes compliance seriously and is working to meet regulatory standards.
“Financial crimes compliance is very serious and really important. We we take it very, very seriously. We spent a huge amount of resources, trying to get it right, and we think we are getting it right.”
— Bernard Mensah -
This is exactly why the whole “War on Drugs” has been a joke from the start. Everyday people get harassed , arrested and jailed, and we all give up normal privacy, while the banks have been facilitating money laundry all along.
1 more of the top 2 · 2 posts in this stretch
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"failed to identify and report more than $5 billion in suspicious transactions" - Ok so they didnt snitch on their customers enough?
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Bank of America says it is remediating compliance issues
Bank of America issued a statement saying it is working with regulators and has invested heavily in technology and staff to address the deficiencies cited in the fine.
“We have invested billions of dollars in technology and dedicated thousands of employees to combat financial crime, and our team is far along with and committed to completing the work required to address the issues raised by our regulators.”
— Bank of America spokesperson -
2 outlets first by Barron's Online, 1d ago · also Daily Wire · read ↗
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Bank of America was fined more than $1.21 billion for money laundering and sanctions violations by US regulators
2 more of the top 3 · 12 posts in this stretch
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🇺🇸 Treasury hit Bank of America with MORE THAN $1.21B in penalties for failing to stop money laundering FinCEN, the main anti-money-laundering unit, assessed $1.2B, the OCC added a record $750M credited toward the total, and OFAC settled for $11.6M over sanctions violations
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Who neglected to pay tribute to the king? https:// apnews.com/article/treasury-ba nk-of-america-money-laundering-29013b2c8f08a3a8d579a96721ed1aa4 # money # law # BofA
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Online reaction mocks Treasury for fining a bank over sanctions
Social media commenters reacted with skepticism and irony, some noting the Trump administration's own sanctions-related dealings, others questioning whether the penalty would change bank behavior.
“Trump's USTreasury Department is imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws....hold on...hold on....😂 I can't even finish the sentence 😂 this is so rich.”
— girlsreallyrule.bsky.social -
🚨 BREAKING: In a massive move, Treasury Sec. Scott Bessent just slapped $1.21 BILLION in penalties on BANK OF AMERICA, which facilitated suspicious transactions involving CHINA and other nations The bank racked up 475 apparent sanctions violations involving Iran, Russia,
2 more of the top 3 · 6 posts in this stretch
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Trump's USTreasury Department is imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws....hold on...hold on....😂 I can't even finish the sentence 😂 this is so rich.
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BREAKING: Bank of America has been fined $1.2 billion over money-laundering violations. Bank of America admits willfully violating Bank Secrecy Act regulations and failing to “timely report” more than $5 billion in “suspicious” transactions, the Treasury has said.
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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.
“Today’s actions send a clear message that even the biggest financial institution(s) are not above the law.”
— Scott Bessent -
16 outlets US Hits Bank of America with $1.2 Billion Fine, Saying It Violated Money Laundering, Sanctions Laws
first by The San Fernando Valley Sun, 21h ago · also PBS, CNN, SCMP China, SCMP, NY Post, BBC +9
5 more headlines
- U.S. hits Bank of America with $1.2 billion fine, saying it violated money laundering and sanctions laws PBS NewsHour · 21h ago
- Bank of America fined $1.2 billion by Treasury Department for violating money laundering and sanctions laws CNN · 20h ago
- Bank of America fined US$1.21 billion as US flags suspected Chinese money laundering SCMP China · 18h ago
- Bank of America profits hit by $1.2B fine for overlooking Chinese money laundering, narco trafficking NY Post · 18h ago
- Bank of America fined $1.2bn over failing to stop money laundering Mastodon · 7h ago
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first by ABC Australia, 1d ago · also The Hill, WSJ US Business, NYT Business, ZeroHedge, RedState, Anadolu Agency +7
12 more headlines
- Treasury fines Bank of America $1.2B for violating money laundering, sanctions law The Hill · 1d ago
- Bank of America to Pay $1.2 Billion to Settle Violations of Money Laundering, Sanctions Laws WSJ US Business · 1d ago
- Bank of America Pays $1.8 Billion Fine for Lax Money-Laundering Oversight NYT Business · 1d ago
- Bank Of America Fined $1.2 Billion For Failing To Report $5 Billion In Suspicious Transactions, Including Chinese Money-Laundering Networks ZeroHedge · 1d ago
- Bank of America Hit With Huge $1.2B Treasury Fine RedState · 1d ago
- US Treasury fines Bank of America more than $1.21B over money laundering and sanctions laws violations Anadolu Agency · 1d ago
- US fines Bank of America US$1.2 billion, says it violated money laundering, sanctions laws SCMP · 1d ago
- Bank of America Fined More Than $1.2 Billion for Money-Laundering Bloomberg Markets · 1d ago
- US fines Bank of America $1.2bn for money laundering, sanctions violations Al Jazeera · 1d ago
- US fines Bank of America $1.2 bn for anti-money laundering violations Bangkok Post · 1d ago
- Bank of America hit with $1.2B in penalties over money laundering compliance failures Fox Business · 1d ago
- Bank of America hit with $1.2bn fine for money laundering failings BBC · 1d ago
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OCC announces record $750 million penalty
The Office of the Comptroller of the Currency said its $750 million civil money penalty against Bank of America, part of the broader settlement, is the largest in OCC history.
“This amount is the largest in OCC history.”
— @USOCC -
The @Treasury and @USOCC today announced a $750 million civil money penalty against Bank of America for violations of the Bank Secrecy Act and its implementing regulations. This amount is the largest in OCC history. Read more at
1 more of the top 2 · 2 posts in this stretch
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BREAKING: The U.S. Treasury says it’s imposing $1.2 billion in fines on Bank of America for violating money laundering, sanctions laws.
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Also covered reported alongside — the timeline has no entry for these yet
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first by TradingView, 1d ago · also Quartz
1 more headline
and 3 smaller pieces
What people are saying 12 voices from 3 sites · best of 28 · verbatim
- Today
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Cmon man, use your brain. That math doesnt work, 5k a pop out of a billion only covers about 200K people. Its not even a small fraction. IMO, that 5K will never happen, just like everything else he has promised fir the American people
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They made more money off the bribe. Until “white collar” crimes aka predominately privileged, wyt, male crimes are prosecuted against individuals & results in real prison time - nothing will ever change. This is a systemic issue & the system is working perfectly.
- Oct 13
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Thought I read that the practice became illegal a bunch of years ago. Once I called to complain about my balance when they clearly rearranged my purchases to cause an overdraft. The rep initially was being a stickler about it until I called it out and he immediately refunded me my money. I may be totally off base but that's my story and I'm…
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# BBC # News Bank of America hit with $1.2bn fine for money laundering failings
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I wish there were a way to know if these were real violations
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Watch Bank of America Fined More Than $1.2 Billion for Money-Laundering - Bloomberg https://www. bloomberg.com/news/videos/2026 -10-13/bofa-fined-more-than-1-2-billion-for-money-laundering-video?utm_source=flipboard&utm_medium=activitypub Posted into Bloomberg Television @ bloomberg-television-bloomberg
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Bank of America ordered to pay a historic $1.2 billion to Treasury Department over alleged violations of anti-money laundering and sanctions laws.
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Work in market infrastructure, 99% of the time this is the bank failing to detect money laundering, as opposed to being actively involved in it. No excuse for not picking it up with compliance and controls, for which banks are held responsible.
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TD Bank got hit with money laundering fines and restrictions on its US business. The stock is up 100% since then and profits are rolling in. None of this shit matters.
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“It’s clear that these poor CEOs aren’t making enough money leading them to crime. We should cut their taxes and give them billions in tax dollars”
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How can the Trump administration fine BofA for violating sanctions laws when the same administration is violating a sanctions law with the Russia diesel deal? What don't I get here?
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Now do Trump. US hits Bank of America with $1.2 billion fine, saying it violated money laundering, sanctions laws.