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$1.2 Billion Wake-Up Call: Six AML Failures Behind the Bank of America Enforcement Action

$1.2 Billion Wake-Up Call: Six AML Failures Behind the Bank of America Enforcement Action

by Liz DeMarco | Oct 16, 2026 | Compliance Chronicles

When transaction monitoring, escalation, staffing, audit, and remediation all break down at once, the consequences can be enormous. On October 13, 2026, FinCEN assessed a $1.2 billion civil money penalty against Bank of America for violations of the Bank Secrecy Act...

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