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المشهد العربي
Source: المشهد العربي
7 Hrsالمشهد العربي
Source: المشهد العربي
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The U.S. Treasury Department fined Bank of America $1.2 billion—the third-largest fine in the department’s history—for failing for years to report suspicious transactions totaling more than $5 billion and to address deficiencies in its anti-money-laundering systems. The unreported transactions included more than $1 billion linked to Chinese money-laundering networks and suspicious activity across the southern border. The bank also reached a separate $11.6 million settlement over sanctions violations. Bank of America admitted to a willful violation of the Bank Secrecy Act, including inadequate oversight of foreign accounts and delays in filing suspicious activity reports.
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