The U.S. Treasury Department announced approximately $1.21 billion in penalties against Bank of America over anti-money-laundering compliance failures and violations of U.S. sanctions, according to the licensed source material published Oct. 13, 2026.
Regulators said the bank failed to adequately investigate potentially suspicious transactions totaling trillions of dollars, despite awareness of significant compliance deficiencies. The announcement includes what the source describes as the largest penalty in the Office of the Comptroller of the Currency’s history and the third-largest in the Financial Crimes Enforcement Network’s history.
The supplied information does not detail the specific transactions, the agencies’ findings or the terms of the penalties. This report is based on the brief account provided by Fox Business News; further details may emerge.
