BANK OF AMERICA FINED $1.2 BILLION OVER MONEY LAUNDERING FAILURES! 🇺🇸 US regulators announced over $1.21 billion in penalties and settlements against Bank of America over AML compliance failures and sanctions-related violations. Regulators cited more than $5 billion in suspicious transactions that were not reported on time. Elizabeth Warren has repeatedly warned about crypto money laundering and sanctions evasion. But this case highlights that financial crime risks exist in traditional banking too. Should banks and crypto platforms face equally strict AML regulations?