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Bank of America to pay $1.21 billion to settle anti-money laundering and sanctions violations
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Bank of America will pay $1.21 billion in penalties to settle violations of anti-money laundering and sanction laws, according to a post citing The Wall Street Journal. The item states the penalty amount and the legal areas involved but does not identify the regulators, the specific conduct, or the timeline of the violations. It also does not include any response from Bank of America or details on how the settlement will be implemented. The development is a concrete enforcement outcome involving a major financial institution and a nine-figure financial penalty.
Source report
Bank of America will pay $1.21 billion in penalties to settle violations of anti-money laundering and sanction laws.
Source: https://t.co/zvL66eOb6o
Source
WSJWestern
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