Bank of America fined $1.2B by FinCEN
- Amount
- $1,200,000,000
- Regulator
- FinCEN
- Financial Crimes Enforcement Network
- Date
- Country
- United States
- Bank
What happened
FinCEN has imposed a $1.2 billion penalty on Bank of America for failing to mitigate and report priority national security risks, including Chinese money laundering activities.
Violations
AML program failures Sanctions
Controls that catch this
- Transaction Monitoring: scenario coverage, alert review and SAR workflow
- Sanctions and PEP screening with ongoing monitoring
- Customer risk assessment that blocks or escalates high-risk onboarding
- Case management with an audit trail for every decision
Sources
- Regulator's notice Official
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Also reported by 5 outlets, tracked in
AML News Radar
- Live: Bank of America fined $US1.2 billion for anti-money laundering failures ABC News (Australia)
- Bank of America Pays $1.8 Billion Fine for Lax Money-Laundering Oversight The New York Times
- Bank of America hit with $1.2bn fine for money laundering failings BBC News
- BoA pays $1.21B for AML lapses and alleged sanctions violations Compliance Week
- BofA Sued After $1.2B Fine For AML Compliance Gaps Law360
Doing business with Bank of America? Check the company and its owners against sanctions lists for free.
Run a sanctions checkRelated fines
| 13 Oct 2026 | Bank of America, N.A. | OCC | $750,000,000 |
| 13 Oct 2026 | Bank of America, N.A. | OFAC | $11,662,930 |
| 3 Aug 2026 | UBS Financial Services Inc. | FinCEN | $14,500,000 |
| 6 Mar 2026 | Canaccord Genuity LLC | FinCEN | $200,000 |
| 9 Dec 2025 | Paxful, Inc. and Paxful USA, Inc. | FinCEN | $5,000 |
Figures and summaries come from the regulator's published notice or, where noted, press reports. Penalties can be reduced, appealed or combined with other agencies' actions. Last reviewed by our compliance team: 27 Oct 2026.