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Finance & Markets

Allan Gray favours Nigerian stocks over South Korea’s Kospi

Allan Gray Ltd., which oversees $29 billion in assets, favors Nigerian stocks over South Korean equities, as they offer a

Allan Gray favours Nigerian stocks over South Korea’s Kospi

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Money laundering failures land Bank of America with a $1.2 billion fine

US authorities have imposed a $1.2 billion (€1.07bn) penalty on Bank of America over failures to tackle money laundering. The bank also settled alleged sanctions violations involving Iran and Russia.

  • US Treasury fines Bank of America $1.2 billion for anti-money laundering failures.
  • Bank of America settles with Treasury's Office of Foreign Assets Control over sanctions violations.
  • Bank failed to report over $5 billion in suspicious transactions on time.

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