Bank of America fined $1.2 billion for missing warnings on suspicious money

Bank of America must pay $1.2 billion after FinCEN, the U.S. office that watches for dirty money, said it failed to act on and report risks. The bank was late reporting more than $5 billion in questionable transfers tied to Chinese criminal money-cleaning groups and illegal money near the U.S.-Mexico border, Oct. 14, 2026 reporting said.