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Bank of America spent millions on anti-money-laundering tech, but not enough to avoid a $1.2B fine

Bank of America has had to spend big on IT in response to an AI security audit and findings that its anti-money-laundering (AML) controls were lacking. The bank was fined a whopping $1.2 billion for money laundering offences this week, after banking authorities identified a lax attitude to complian…

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  1. 2026-10-16 13:02 · InfoWorld AI
    Bank of America spent millions on anti-money-laundering tech, but not enough to avoid a $1.2B fine

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