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US fines Bank of America US$1.2 billion, says it violated money laundering, sanctions laws

The US Treasury Department said on Tuesday that it was imposing US$1.2 billion in fines on Bank of America for allegedly violating anti-money-laundering and sanctions laws. The fines on America’s second-biggest bank amount to the third-largest in the department’s history. “When a bank of this size f

Reporting and discussion

  1. South China Morning Post: US fines Bank of America US$1.2 billion, says it violated money laundering, sanctions laws
  2. CNN: Bank of America fined $1.2 billion by Treasury Department for violating money laundering and sanctions laws