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ABC NEWS (AUSTRALIA) A2 FINANCIAL CRIME HIGH RISK Published 13 Oct 2026 at 21:13 UTC, affecting US

ABC: Live: Bank of America fined $US1.2 billion for anti-money laundering failures

Bank of America has been fined $1.2 billion by the US Treasury for anti-money laundering failures, marking a record penalty. The enforcement action highlights significant compliance lapses at the bank.

Prepared automatically by complead Research from ABC News (Australia), published 13 Oct 2026.

Read the original notice ↗ All US items

What happened

Bank of America has been fined $1.2 billion by the US Treasury for anti-money laundering failures, marking a record penalty. The enforcement action highlights significant compliance lapses at the bank.

Named in this item

2 entities
STATUS NAME ISO PROGRAM IDENTIFIER
Bank of America
Organization, fined
Screen this name US — —
US Treasury
Organization, regulator US — —

What compliance teams should check

  • Review exposure to Bank of America for AML compliance risks
  • Update internal controls in line with recent enforcement trends
  • Monitor for further regulatory actions involving major US banks
FOR COMPLIANCE TEAMS

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FROM THE NOTICE The ASX is set to slip after a slightly negative finish on Wall Street. Bank of America is hit with a record fine by the US Treasury. Follow the day's events and insights from our business reporters on the ABC News live markets blog. ABC News (Australia), 13 Oct 2026, 21:13 UTC, abc.net.au

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Each item is classified by category, pinned to the jurisdictions it affects and scored from 0 to 10. The score starts from a model assessment of how serious the item is, then adds points for the kind of event, what it names and the source behind it. Reliability grades run from A1 (the regulator’s own notice) to C3 (a single secondary source).

AML News Radar reports what its sources publish. Summaries, categories and scores are automated; read the original notice before acting. It is not legal advice and not a screening decision.

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