Banking and financeMultiple publishers
US fines Bank of America $1.2bn for money laundering and sanctions violations
The US has fined Bank of America $1.2bn. The country’s second-largest bank was penalised for failing to comply with money-laundering and sanctions laws.
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The US has fined Bank of America $1.2bn for violations of money-laundering and sanctions laws.
Bank of America is the second-largest bank in the US. The penalties were described as record fines.
The punishment concerns the bank’s failure to comply with requirements in two areas: preventing money laundering and observing sanctions.
What we know
- Bank of America was fined $1.2bn in the US.
- The bank is the second-largest in the country.
- The violations concern money-laundering and sanctions laws.
- The penalties were described as record fines.
Trust: Multiple publishers
- Several publishers are cited. They may share the same underlying source; independent reporting is not automatically established.
- Sources: The Guardian Business, Al Jazeera English.
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