US fines Bank of America US$1.2 billion, says it violated money laundering, sanctions laws

South China Morning Post - Oct 13, 2026

The US Treasury Department said on Tuesday that it was imposing US$1.2 billion in fines on Bank of America for allegedly violating anti-money-laundering and sanctions laws. The fines on America’s second-biggest bank amount to the third-largest in the department’s history. “When a bank of this size fails to meet its anti-money-laundering and sanctions obligations, the consequences extend far beyond its own walls, exposing the entire US financial system to significant illicit finance risks,”...

Read full article

MORE NEWS

ABOUT US
Logo

We believe that information is the new age currency. Digital Press Network is your source for digital culture and innovation for the connected generation.

SUBSCRIBE
Copyright © 2015 - 2026 Digital Press Network. All Rights Reserved.