Bank of America fined $1.8 billion over money-laundering controls
Federal regulators found the bank allowed suspicious transactions to proceed without adequate scrutiny.
By The Carnegie Standard Staff
· 1 min read
Bank of America is paying a $1.8 billion fine over weaknesses in its anti-money-laundering oversight, according to a report published on October 13, 2026.
Federal regulators determined that the bank had allowed suspicious transactions to go through without applying proper care, the report said.
No further details on the regulators involved, the period covered by the findings or the specific transactions at issue were included in the material available.
Banks operating in the United States are required to monitor customer activity for signs of money laundering and to report transactions that appear suspicious to federal authorities. Failures in those controls have drawn financial penalties against large lenders in the past.
This story was first reported by The New York Times.
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