StocksMediumUpdated•Originally published 13 October 2026•Updated 13 October 2026•
1 min read
US Treasury Fines Bank of America $1.21 Billion for Sanctions Violations
Key Facts
1Bank of America was fined $1.2 billion for failing to flag $5 billion in suspicious transactions.
2The suspicious transactions are linked to illicit finance from China and the southern US border.
The US Treasury Department imposed $1.21 billion in penalties against Bank of America (BAC) for violations of US sanctions laws and anti-money laundering failures. The Financial Times reported that the bank failed to monitor $5 billion in suspicious transactions involving illicit finance flows from China and the southern US border.
Bank of America (BAC) closed at $54.58 on October 12, 2026, while JPMorgan Chase (JPM) was trading at $334.67 on October 13, 2026. Among industry peers, Wells Fargo (WFC) closed at $83.32 and Citigroup (C) closed at $131.93 on October 12, 2026.