{"id":2683806,"date":"2026-10-14T12:09:58","date_gmt":"2026-10-14T16:09:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/boa-hit-with-record-breaking-fine-confesses-to-wild-violations-involving-narcos-terrorism-money-laundering-russian-iran-and-others\/"},"modified":"2026-10-14T12:14:44","modified_gmt":"2026-10-14T16:14:44","slug":"boa-hit-with-record-breaking-fine-confesses-to-wild-violations-involving-narcos-terrorism-money-laundering-russian-iran-and-others","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/boa-hit-with-record-breaking-fine-confesses-to-wild-violations-involving-narcos-terrorism-money-laundering-russian-iran-and-others\/","title":{"rendered":"BoA Hit With Record Breaking Fine, Confesses to Wild Violations Involving Narcos, Terrorism, Money Laundering, Russian, Iran, and Others"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fboa-hit-with-record-breaking-fine-confesses-to-wild-violations-involving-narcos-terrorism-money-laundering-russian-iran-and-others%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2683806&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The content discusses a significant enforcement action by the U.S. Treasury Department against Bank of America, imposing fines totaling over $1.2 billion for violations related to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawmakers-introducing-legislation-targeting-enablers-of-international-corruption-after-pandora-papers-findings\/\" title=\"Lawmakers Introducing Legislation Targeting Enablers of International Corruption After Pandora Papers Findings\">anti-money laundering<\/a> and sanctions laws. This represents the third-largest penalty in Treasury history and the largest ever by the Office of the Comptroller of the Currency. The fines stem from the bank&#8217;s failure to adequately report and mitigate risks linked to illicit activities, including Chinese money laundering and unlawful transactions along the U.S.-Mexico border, and also violations of sanctions targeting countries like Iran and Russia. Bank of America admitted to willfully violating the Bank Secrecy Act and has agreed to settle these issues, acknowledging their efforts to improve compliance. The penalties will impact the bank&#8217;s upcoming quarterly earnings, wiht an expected non-tax-deductible charge of $1.2 billion. Despite the fines, Bank of America maintains that it is indeed working diligently to strengthen its compliance measures, spending significant resources to meet high regulatory standards. The bank&#8217;s stock experienced a decline following the announcement. Additionally, the bank faced prior legal issues, such as a $72.5 million settlement over a lawsuit related to Jeffrey Epstein. The overall situation highlights ongoing challenges faced by major financial institutions in adhering to complex regulatory requirements to prevent financial crimes.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><br \/>\n<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><script>console.log(\"ad slot (REP_0)\")<\/script><\/p>\n<p>The U.S. Treasury Department has hit Bank of America with $1.2 billion in fines for violating a whole host of anti-money laundering and sanctions laws.<\/p>\n<p>\u201cWhen a bank of this size fails to meet its anti-money laundering and sanctions obligations, the consequences extend far beyond its own walls, exposing the entire U.S. financial system to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-crypto-exec-order-u-s-must-mitigate-national-security-risks-of-digital-assets\/\" title=\"Biden Crypto Exec Order: U.S. Must Mitigate &#039;National Security&#039; Risks of Digital Assets\">significant illicit finance risks<\/a>,\u201d Treasury Secretary Scott Bessent said in a <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0657\/\" target=\"_blank\" rel=\"noopener\">statement<\/a>.<\/p>\n<p>\u201cToday\u2019s actions send a clear message that even the biggest financial institutions are not above the law,\u201d he added.<\/p>\n<p>The fines are the largest ever filed by the Office of the Comptroller of the Currency and the third largest ever filed by the <a href=\"https:\/\/www.westernjournal.com\/tag\/department-of-the-treasury\/\" target=\"_blank\" rel=\"noopener\">Treasury Department<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Today, the U.S. Department of the Treasury announced enforcement actions imposing more than $1.21 billion in penalties against Bank of America for violations of anti-money laundering and sanctions laws. These actions represent the third-largest penalty in Treasury history and the largest in @USOCC history.<br \/> https:\/\/t.co\/O7PCfyFPqO<\/p>\n<p>\u2014 Treasury Department (@USTreasury) <a href=\"https:\/\/x.com\/USTreasury\/status\/2110145093889896620?\">October 13, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The department reported that the fines were \u201cassessed\u201d by the Financial Crimes Enforcement Network as a penalty \u201cfor the Bank\u2019s failure to mitigate and report priority national security risks, including Chinese Money Laundering Networks and illicit finance along the southwest border.\u201d<\/p>\n<p>The actions against Bank of America also included an $11.6 million settlement agreement over \u201cviolations of numerous sanctions programs, including on Iran, Russia, narcotics, and global terrorism.\u201d<\/p>\n<p>The Treasury Department further noted that Bank of America has admitted to having \u201cwillfully violated\u201d the Bank Secrecy Act.<\/p>\n<p>\u201cFinancial crime compliance is serious, and we are responsible for getting it right,\u201d Bank of America said in a statement reported by the <a href=\"https:\/\/apnews.com\/article\/treasury-bank-of-america-money-laundering-29013b2c8f08a3a8d579a96721ed1aa4\" target=\"_blank\" rel=\"noopener\">Associated Press<\/a>.<\/p>\n<p>\u201cWe worked with regulators to reach these penalty resolutions stemming from violations cited in the previously reported 2024 (Comptroller of the Currency) Consent Order and FinCEN\u2019s investigation,\u201d the statement continued.<\/p>\n<p>As of Wednesday morning, Bank of America\u2019s stock appeared to be down:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bank of America $BAC is down by almost 5% in pre market trading<\/p>\n<p>\ud83d\udd34 https:\/\/t.co\/Q328S9T0TF<\/p>\n<p>\u2014 Evan (@StockMKTNewz) <a href=\"https:\/\/x.com\/StockMKTNewz\/status\/2110339071675433140?\">October 14, 2026<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Appearing at CNN\u2019s Global Perspectives panel in Bangkok on Wednesday, top Bank of America official Bernard Mensah stressed that the bank is working hard to get back on track compliance-wise.<\/p>\n<p>\u201cFinancial crimes compliance is very serious and really important,\u201d he said, according to <a href=\"https:\/\/www.cnn.com\/2026\/10\/13\/investing\/bank-of-america-billion-dollar-fine\" target=\"_blank\" rel=\"noopener\">CNN<\/a>. \u201cWe we take it very, very seriously. We spent a huge amount of resources, trying to get it right, and we think we are getting it right. But these are very high standards, and so we\u2019re working towards that.\u201d<\/p>\n<p>According to the Bank of America, which just paid a <a href=\"https:\/\/www.westernjournal.com\/bank-america-pay-72-5m-settlement-epstein-lawsuit\/\" target=\"_blank\" rel=\"noopener\">$72.5 million settlement<\/a> over a lawsuit related to Jeffrey Epstein last spring, the $1.2 billion in fines will impact the company\u2019s quarterly earnings results slated to be released on Wednesday.<\/p>\n<p>\u201cOur third-quarter results will include a non-tax-deductible charge of $1.2 billion impacting net income by approximately 17 cents per ,\u201d the company said in a statement to CNN.<\/p>\n<p>\u201cWe have already dedicated substantial personnel and resources to our ongoing remediation efforts, and those costs are in the current expense base,\u201d the statement continued.<\/p>\n<p>As for the reason behind the bank\u2019s failure to stop illicit transactions, CNN noted that the bank\u2019s \u201csanctions-screening filter had a design flaw that prevented it from appropriately prioritizing certain potentially prohibited transactions.\u201d<\/p>\n<p>\u201cWhen a transaction matched an individual\u2019s name and date of birth on the US Treasury Department\u2019s sanctions list, the bank\u2019s system did not flag the transaction as high priority,\u201d CNN added.<\/p>\n<p>The bank made headlines in August when a conservative advocacy group accused it of being one of many corporations still actively <a href=\"https:\/\/www.westernjournal.com\/watchdog-group-claims-major-corporations-keeping-woke-1-0-alive\/\" target=\"_blank\" rel=\"noopener\">keeping <\/a>\u201cwokeness\u201d alive and well.<\/p>\n<div style=\"background-color: #f7f7f7; color: #171717; display: flex;font-size: 16px;font-weight: 600;line-height: 1.5;margin: 24px 0;padding: 18px 20px 18px 30px;text-align: left;\">\n<div style=\"align-self: stretch;border-left: 3px solid #171717;flex-shrink: 0;padding-left: 20px;\"><\/div>\n<p><a style=\"text-decoration: none;\" href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.westernjournal.com\/\">Choose The Western Journal as your preferred source on Google and never miss reporting that defends truth, protects freedom, and advances Western civilization<\/a><\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\"> \t\t\t \t<\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> \t\t\t\t\t\t<label>* Name<\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"name\" required> \t\t\t\t\t<\/div>\n<div class=\"sc--field\"> \t\t\t\t\t\t<label>* <\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"\" required> \t\t\t\t\t<\/div>\n<p> \t\t\t\t\t<label>* Message<\/label> \t\t\t\t\t<br \/> \t\t\t\t\t<textarea name=\"message\" required><\/textarea> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> \t\t\t\t\t<input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\"> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t<script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey == typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts = { \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs = [ 'name', '', 'message' ];  \t\t\t\t\tfor( var i = 0; i < inputs.length; i++ ) if( ! 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