Bank of America ordered to pay historic $1.2 billion over alleged sanctions law violations

Bank of America was fined $1.2 billion by the U.S. Treasury Department for violating anti-money laundering and sanctions laws, including failing to report over $5 billion in suspicious transactions and processing payments that violated sanctions on multiple countries.

This Wire brief sits within Fusion42's coverage of Fintech, and 4 sources have reported it between 13 Oct 2026 and 14 Oct 2026.