# US Fines Bank of America $1.2 Billion for AML and Sanctions Violations

> US fines Bank of America $1.2 billion over alleged anti-money laundering and sanctions breaches.
- Title: US Fines Bank of America $1.2 Billion for AML and Sanctions…
- Summary: US fines Bank of America $1.2 billion over alleged anti-money laundering and sanctions breaches. US Treasury Department fined Bank of America $1.2 billion…
- Keywords: us treasury, bank of america, aml violations, sanctions violations, treasury department, occ, fincen, ofac, business, finance, Fines, Bank
- Source: Pymnts — https://pymnts.com/legal/bank-regulation/2026/us-fines-bank-of-america-1-2-billion-alleging-aml-and-sanctions-violations
- Author: PYMNTS
- Published: 2026-10-13T22:51:28+00:00
- Read time: 1 min
- Topics: us treasury, bank of america, aml violations, sanctions violations, treasury department, occ, fincen, ofac, business, finance
## US Fines Bank of America
Three federal agencies imposed penalties totaling more than $1.21 billion on Bank of America.
## Largest OCC Penalty
OCC assessed $750 million penalty, Bank of America's largest-ever civil money penalty.
## FinCEN Penalty
FinCEN imposed $1.2 billion penalty for failing to report $5 billion in suspicious transactions.
## OFAC Settlement
OFAC settled $11.6 million over 475 apparent sanctions violations including Iran and Russia.
## Bank Statement
Bank of America committed to addressing regulators' concerns with $1.2 billion non-tax-deductible charge.
## Treasury Statement
Treasury Secretary Scott Bessent warned of systemic risks from financial crime violations.
## Consequence
Bank of America faces $1.2 billion charge impacting net income by 17 cents per share.
## Key takeaway

US Treasury Department fined Bank of America $1.2 billion for violating anti-money laundering and sanctions laws.