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Source:
The Columbus Dispatch
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Bank of America faces $1.2B AML fine
The Treasury announced over $1.21 billion in penalties against Bank of America for anti-money laundering and sanctions violations, including failing to report over $5 billion in suspicious transactions from 2018 to 2025. The fines include a $750 million penalty from the Office of the Comptroller of the Currency and an $11.6 million fine for sanctions violations related to payments to sanctioned entities. Bank of America admitted to willful violations and agreed to enhance its compliance measures.
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