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Bank of America hit with $1.2B penalty over money laundering failures

Bank of America faces approximately $1.21 billion in federal penalties over longstanding anti-money laundering compliance failures and U.S. sanctions violations

Sources (2)· Oct 13, 8:16 PM to Oct 13, 9:03 PM

bank of america penalty Economy Security

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Fox Business· Oct 13, 8:16 PMBank of America hit with $1.2B penalty over money laundering failures
Axios· Oct 13, 9:03 PMBank of America hit with $1.2 billion penalty over money laundering allegations

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Bank of America hit with $1.2 billion penalty over money laundering allegationsThe Treasury Department on Tuesday announced more than $1.2 billion in penalties against Bank of America for years of failures to report suspicious transactions and address shortcomings in its anti-money-laundering program. Why it matters: The action includes the third-largest penalty in Treasury history. What they're saying: "Today's actions send a…

Axios4d agoWhole story →

Economy bank of america penalty

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