Bank of America fined $1.2B for allegedly violating money laundering, sanction laws, Treasury says

article FILE - The Bank of America logo is displayed on a sign in front of a Bank of America office on July 16, 2025 in Sunnyvale, California.  (Photo by Justin Sullivan/Getty Images) The Brief Bank of America has been fined $1.2 billion for allegedly violating anti-money laundering and sanctions laws.The Treasury announced the fine on Tuesday.Bank of America is the country's second-largest bank.  The Treasury Department is fining Bank of America $1.2 billion for allegedly violating anti-money laundering and sanctions laws. The fines on America’s second-biggest bank amount to the third-largest in the department’s history. Bank of America fined by Treasury Dig deeper: Bank of America is the country’s second-largest bank.  The bank allegedly processed millions of dollars in payments that violated sanctions programs, including programs that targeted global terrorism and narcotics, according to The Washington Post.  This is a developing story. Check back for updates.  The Source: Information for this article was taken from reporting by The Associated Press and The Washington Post. This story was reported from San Jose.  Crime and Public SafetyMoneyBusiness