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Bank of America hit with $1.2B in penalties over money laundering compliance failures
Source: foxbusiness.com
Sanctions & Export ControlsRegulation & LegislationLegal & LitigationBanking & Liquidity
The U.S. Treasury Department announced approximately $1.21 billion in penalties against Bank of America over failures to investigate suspicious transactions and comply with U.S. sanctions laws. The announcement highlights significant compliance and financial exposure for the bank.
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