Bank of America has been fined $1.2 billion in penalties for violating anti-money-laundering laws and violating sanctions against countries including Russia, Iran and Somalia, according to the Treasury Department.
washingtonpost.com
Treasury Department imposes $1.2 billion penalty against Bank of America
Bank of America failed to adequately monitor for potentially illegal activity in its accounts, according to the Treasury Department. The penalty is the third largest in department history.
