Bank of America Fined $1.2 Billion Over Unreported Suspicious Transactions

U.S. regulators have fined Bank of America $1.2 billion for failing to report more than $5 billion in suspicious transactions, according to reports on Monday.

CEO Brian Moynihan said the bank has added thousands of employees to strengthen its compliance efforts. The penalty is among the larger anti-money-laundering related fines seen in the sector in recent years.

Bank of America (BAC) is a holding in the Dyatome Capital portfolio. Investors will watch whether the fine prompts further regulatory scrutiny or any change in capital return plans.