EconomyBank of America fined $1.2bn over money-laundering failures
The US Treasury fined Bank of America $1.2bn for failing to detect potential money laundering and other illegal activity. The bank did not report more than $5bn in suspicious activity, including $1bn posing national security and illicit-finance risks. Under the settlement, it admitted willfully violating the Bank Secrecy Act.
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BBC News★★★☆☆2026-10-14 02:05Original
Bank of America fined $1.2bn over money-laundering failures
Economy