Bank Of America Money Laundering Fine

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 13 Oct

   Bank of America hit with $1.2B fine for money laundering, sanctions violations

   5 outlets · New York Post
2. 14 Oct

   The Office of the Comptroller of the Currency (OCC) assessed a $750 million fine, the largest in its history, for the bank’s deficient and ineffective anti-money laundering compliance programme.

   3 outlets · Al Jazeera

Coverage 6 articles

• 14 Oct What does the historic Bank of America fine mean for US-China capital streams?The US Treasury imposed fines totaling over $1.21 billion on Bank of America for compliance failures involving Chinese money-laundering networks and other suspicious activities. This includes the third-largest penalty in US Treasury history. Analysts interpret this action as a signal that Western banks may increase scrutiny of transactions with Chinese clients and cross-border financial flows, citing Bank of…South China Morning Post
• 14 Oct Bank of America fined $1.2bn for money laundering failuresBank of America has been fined $1.21 billion by US regulators for failing to detect potential money laundering and other illicit activities, making it the third-largest penalty in Department of Treasury history. The fine stems from the bank’s failure to report over $5 billion in suspicious transactions, including $1 billion posing significant risks. The treasury secretary emphasized that financial institutions must…The Guardian
• 14 Oct Bank of America hit with $1.2bn fine for money laundering failingsThe US Treasury Department fined Bank of America $1.2 billion for failing to detect and report over $5 billion in suspicious transactions, including those linked to Chinese money laundering networks and trade-based laundering. The fine includes penalties from the Office of the Comptroller of the Currency (OCC) and the Office of Foreign Assets Control (OFAC), with OCC’s penalty being its largest ever at $750 million…BBC
• 14 Oct US fines Bank of America $1.2bn for money laundering, sanctions violationsThe U.S. Treasury Department fined Bank of America $1.21 billion for violating anti-money laundering laws and sanctions, marking the third-largest penalty in department history. The fine includes a $750 million assessment by the Office of the Comptroller of the Currency (OCC) for deficient AML compliance, the largest in its history. Treasury Secretary Scott Bessent emphasized that even large institutions are subject…Al Jazeera
• 14 Oct US fines Bank of America US$1.2 billion, says it violated money laundering, sanctions lawsThe US Treasury Department fined Bank of America $1.2 billion for violating anti-money-laundering and sanctions laws, citing failures to address priority national security risks such as Chinese money laundering networks. This penalty is the third-largest in the department’s history and underscores the serious consequences faced by major financial institutions that fail to comply with legal obligations designed to…South China Morning Post
• 13 Oct Bank of America hit with $1.2B fine for money laundering, sanctions violationsThe US Treasury Department fined Bank of America $1.2 billion for violating anti-money laundering and sanctions laws, marking the third-largest fine in the department’s history. The penalty includes a record $750 million fine imposed by the U.S. Office of the Comptroller of the Currency. Additionally, Bank of America settled with the Treasury’s Office of Foreign Assets Control for $11.6 million over violations…New York Post

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