Business25 sources
Bank of America Fined $1.2B for Anti-Money Laundering Law Violations
- The U.S. Treasury Department imposed a $1.2 billion fine on Bank of America for violating anti-money laundering and sanctions laws.
- The fine is the third-largest in the department's history.
- Bank of America failed to report suspicious transactions tied to Chinese money laundering networks.
- The fine will impact the bank's coming quarterly earnings.
- Regulators found that the bank had waved through suspicious transactions without proper care.
Articles (30)
MarketWatch·
Bank of America adds a profit miss to the misery of a $1.2 billion government fine
New York Post·
Bank of America profits hit by $1.2B fine for overlooking Chinese money laundering, narco trafficking
South China Morning Post·
Bank of America fined US$1.21 billion as US flags suspected Chinese money laundering
PBS NewsHour·
U.S. hits Bank of America with $1.2 billion fine, saying it violated money laundering and sanctions laws
KABC-TV Los Angeles·
US hits Bank of America with $1.2B fine for allegedly violating anti-money laundering and sanctions laws
WABC-TV New York·
US hits Bank of America with $1.2B fine for allegedly violating anti-money laundering and sanctions laws
The Wall Street Journal·
The Morning Risk Report: Bank of America to Pay $1.2 Billion to Settle Violations of Money Laundering, Sanctions Laws
KXAN Austin·
US hits Bank of America with $1.2B fine, saying it violated money laundering, sanctions laws
WCVB Boston·
US hits Bank of America with $1.2 billion fine, saying it violated money laundering, sanctions laws
Associated Press·
US hits Bank of America with $1.2 billion fine, saying it violated money laundering, sanctions laws