# Bank Of America Fined $1.2 Billion For Money Laundering Failures

> Bank of America pays $1.2 billion penalty after failing to report suspicious financial activity.
- Title: Bank Of America Fined $1.2 Billion For Money Laundering…
- Summary: Bank of America pays $1.2 billion penalty after failing to report suspicious financial activity. Bank of America faces $1.2 billion fine for not reporting…
- Keywords: bank of america, us government, money laundering, suspicious activity reports, treasury department, anti money laundering, news, politics, Bank, America, Fined, Billion
- Source: HuffPost — https://huffpost.com/entry/bank-of-america-fined-12-billion-by-us-government-for-failing-to-police-suspicious-activity_n_6acea2afe4b06494347965ab
- Published: 2026-10-13T21:36:55+00:00
- Read time: 1 min
- Topics: bank of america, us government, money laundering, suspicious activity reports, treasury department, anti money laundering, news, politics
## Bank of America fined
Bank of America faces $1.21 billion penalty from U.S. government for failing to report over $5 billion in suspicious activity.
## Treasury Department statement
Treasury Secretary Scott Bessent said financial institutions protect economic and national security, and bank failures expose the entire US financial system to illicit finance risks.
## Bank of America response
Bank of America claims it has invested billions in technology and thousands of employees to combat financial crime, with a $1.2 billion non-tax-deductible charge for Q3 results.
## Compliance program issues
Bank’s compliance program was deemed deficient and ineffective, causing delays in filing suspicious activity reports on billions of dollars of transactions.
## Key takeaway

Bank of America faces $1.2 billion fine for not reporting over $5 billion in suspicious financial activity to the U.S. government.