Bank of America fined $1.2 billion for money laundering and sanctions violations

Bank of America fined $1.2 billion for money laundering and sanctions violations

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Bank of America, the second-largest bank in the US, has been fined a record $1.2 billion for failing to comply with money laundering and sanctions regulations. This penalty highlights increased regulatory scrutiny on major financial institutions to enforce compliance with legal standards.

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Originally published by gnews