Compliance
Bank of America's US$1.2 Billion AML Penalty Echoes Flaws Found at Merrill Lynch
Bank of America's US$1.21 billion anti-money laundering penalty of 13 October 2026 follows Merrill Lynch settlements in 2017, 2023 and 2026 that found similar monitoring gaps, high thresholds and closed alerts. FinCEN's US$1.2 billion credits the OCC's US$750 million penalty.
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