Bank of America Fined Over $1.2 Billion for Anti-Money Laundering Violations

Bank of America has been fined over $1.21 billion by U.S. regulators for anti-money laundering and sanctions compliance issues. Among the fines, the Office of the Comptroller of the Currency imposed a civil penalty of $750 million, setting a record for the agency. The U.S. Department of the Treasury's Office of Foreign Assets Control's settlement measures involve 475 alleged violations of sanctions programs, with related countries including Russia and Iran. Regulators also issued a consent order against the bank.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.