US Treasury fines Bank of America $1.2 billion for money laundering and sanctions violations
Summary
The US Treasury Department announced a $1.2 billion fine against Bank of America for alleged money-laundering and sanctions violations, the third-largest penalty in the department's history, and said the bank separately settled with OFAC for $11.6 million over sanctions programme breaches involving Iran and Russia, among others.
This summary was written by a language model from the 3 sources listed below.
Extract from the source
Ministarstvo finansija SAD je večeras saopštilo da izriče kaznu od 1,2 milijarde dolara banci "Bank of America" zbog navodnog kršenja zakona o sprečavanje pranja novca
Main source
Locations
- Sjedinjene Američke Države · Country
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Places mentioned in the report
Iran and Russia are marked because they are named as countries covered by the sanctions programmes Bank of America allegedly violated, not as the location of the event.
Sources (3)
- 11:26 PMDanasOpen the original
- 11:27 PMN1 SrbijaOpen the original
- 11:31 PMBanjaluka.netOpen the original
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Severity
Total — moderate signal (20–39)