13 Hrs
Source:
USA TODAY
Bank of America faces 1.2B AML fine
The U.S. Treasury fined Bank of America over $1.21 billion for violations of anti-money laundering and sanctions laws, including failing to report over $5 billion in suspicious transactions from 2018 to 2025. The penalties include a $750 million fine from the Office of the Comptroller of the Currency and an $11.6 million fine from the Office of Foreign Assets Control. Bank of America admitted to willfully violating laws and has committed to independent investigations and enhanced compliance efforts.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)