Bank of America hit with $1.2bn fine for money laundering failings

MyJoyOnline · 2026-10-14T02:55:00.000Z · Finance

Bank of America has been fined $1.2bn (£910m) for failing to detect potential money laundering and other illegal activity, the US Treasury Department said on Tuesday. The banking giant failed to report over $5bn in suspicious activity to the government, $1bn of which posed national security and illicit finance risks, the Treasury said. Those failures […]

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