Bank of America enabled foreign money laundering networks.
Posted by Badlands Media, Checked
- Sources
- 6 support2 context
- Said
- 1 time·
- Confidence
- 75%
Badlands MediaOct 21, 2026
The claim matches the post's wording and is supported by Treasury, FinCEN, and OCC findings that Bank of America admitted willfully violating the Bank Secrecy Act. Those findings say its controls failed to detect and report suspicious transactions indicative of Chinese money laundering networks, which is consistent with 'enabling' them.
Our two reads of who says this, and how, disagree, so it counts as the post's own claim.
What was said
… The the buck stops with the executive, and that's what justifies the amount of liability and and risk that they take on in those roles, justifies that higher compensation. But that entire premise falls apart when nobody gets in trouble, right? And the Bank of America story that came out last week is like, who's going to prison? Who's who is going to get in trouble for for enabling foreign money laundering networks? Well, no one is, you know, or we'll find some patsy down in a low level and say he was a lone wolf, right? That's what always happens. …
Badlands Media · · from the transcriptPost →What we found
Supports. FinCEN and Treasury state that Bank of America failed to report and mitigate priority national security risks, including Chinese Money Laundering Networks and illicit finance along the southwest border.[1][2]
Supports. The bank admitted it willfully violated the Bank Secrecy Act by failing to maintain an adequate anti-money-laundering program and failing to report over $5 billion in suspicious activity.[3][5][6]
Supports. The OCC found the bank's transaction monitoring was deficient and ineffective, resulting in failure to properly monitor trillions of dollars in transactions, with many late suspicious activity reports showing indicia of money laundering.[4]
Context. Sen. Warren says the violations allowed illicit actors to move billions of dollars and has urged a DOJ criminal probe, but that is an allegation of a senator rather than a finding.[7][8]
Sources
8 sources: 4 primary, 1 tier 1, 1 tier 2, 2 not rated
- 1U.S. Treasury Announces Record Enforcement Actions ...home.treasury.gov · primary source · cited for: supports
- 2FinCEN Assesses $1.2 Billion Penalty against Bank of ...fincen.gov · primary source · cited for: supports
- 3BoA Consent Orderstg2.fincen.gov · primary source · cited for: supports
- 4OCC Imposes $750 Million Assessment Against Bank of ...occ.gov · primary source · cited for: supports
- 5Bank of America fined $1.2bn over failing to stop money ...bbc.com · tier 1 · cited for: supports
- 6Bank of America ordered to pay historic $1.2 billion over alleged sanctions law violationsnbcnews.com · tier 2 · cited for: supports
- 7Warren urges DOJ to probe BofA's AML issuesbankingdive.com · not rated · cited for: context
- 8Warren urges DOJ criminal probe of Bank of America over anti-money-laundering violationscnbc.com · not rated · cited for: context
Where this claim was made
Said in 1 published post
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