Anti-money laundering violations: US fines Bank of America over USD1.2bn
WASHINGTON: The US Treasury Department said Tuesday that it is imposing penalties of more than USD1.2 billion on Bank of America, citing “violations of anti-money laundering and sanctions laws.” The actions against the second biggest US bank come amid its “failure to mitigate and report priority national security risks, including Chinese money laundering networks and illicit finance along the…
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