Bank of America Fined Over $1.2 Billion by U.S. Regulators for Anti-Money Laundering and Sanctions Compliance Deficiencies

2026-10-14 08:38 Source： www.bloomberg.com Event types： Regulation/Compliance

According to Bloomberg, Bank of America Corp. was fined more than $1.21 billion by U.S. regulators for anti-money laundering and sanctions violations. Regulators stated that, to protect its revenue, the bank "effectively outsourced" key aspects of its compliance work.