Bank of America has received a record fine exceeding $1.2 billion for deliberately violating the Bank Secrecy Act, the U.S. anti-money laundering law. Between January 2018 and July 2025, a misconfigured monitoring software allowed over $5 billion in suspicious transactions to slip through without mandatory reporting to FinCEN, including approximately $1 billion linked to national security risks. A retrospective audit also uncovered nearly 8,900 suspicious activity reports that were never transmitted, covering $4 billion. The Charlotte-based bank, America’s second-largest financial institution, faces no Department of Justice action, unlike Binance and TD Bank in similar cases.
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