What happened
Bank of America was fined $1.21 billion by the US Treasury Department for anti-money laundering lapses and alleged sanctions violations, highlighting enforcement of AML and Bank Secrecy Act compliance.
Named in this item
STATUS
NAME
ISO
PROGRAM
IDENTIFIER
US Treasury Department
Organization, regulator US Bank Secrecy Act —
Organization, regulator US Bank Secrecy Act —
What compliance teams should check
- Review AML controls and procedures
- Assess exposure to Bank of America for compliance risks
- Update sanctions screening processes
- Ensure Bank Secrecy Act compliance
- Monitor regulatory enforcement trends
FOR COMPLIANCE TEAMS
Catch stories like these on your own customers.
complead screens your customers against adverse media, sanctions and PEP lists, and re-checks them every day. When a name you hold turns up in the news, it lands in your case queue with the evidence attached.
The US Treasury Department announced $1.21 billion in penalties against Bank of America for its lapses in anti-money laundering and alleged sanctions violations, and warned that enforcement of AML rules and federal Bank Secrecy Act compliance is a top priority. The post BoA pays $1.21B for AML lapses and alleged sanctions violations appeared first on Compliance Week .Compliance Week, 16 Oct 2026, 01:06 UTC, complianceweek.com