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Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury agency that enforces anti‑money‑laundering and sanctions regulations. On October 14, 2026, FinCEN levied a historic $1.2 billion fine against Bank of America for failing to report over $5 billion in suspicious transactions, marking the latest development in the case.
What to know
- Treasury penalty totals more than $1.21 billion, the third‑largest in its history. Oct 14
- FinCEN assessed a $1.2 billion charge for anti‑money‑laundering violations. Oct 14
- FinCEN levied a $1.2 billion penalty on Bank of America for AML and sanctions breaches. Oct 13
- The violations cited include failures to address Chinese money‑laundering networks and illicit finance at the southwest border. Oct 13
- FinCEN levied a $1.2 billion penalty on Bank of America for AML violations. Oct 13
Timeline
- Oct 14, 2026
- Oct 13, 2026
- Oct 13, 2026
- Oct 13, 2026
