US fines Bank of America $1.2bn for money laundering, sanctions violations
- The second-largest US bank faces record penalties for failing to comply with sanctions and money laundering laws.
- The US Treasury Department has imposed more than $1.21 billion in penalties against Bank of America, the second-largest bank in the US, for violating anti-money laundering and sanctions laws.
- The fines announced on Tuesday include the third-largest penalty in the department’s history, the US Treasury said in a statement.
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- The second-largest US bank faces record penalties for failing to comply with sanctions and money laundering laws.
- The US Treasury Department has imposed more than $1.21 billion in penalties against Bank of America, the second-largest bank in the US, for violating anti-money laundering and sanctions laws.
- The fines announced on Tuesday include the third-largest penalty in the department’s history, the US Treasury said in a statement.
Sources: Al Jazeera