🔥 Bank of America hit with a record-breaking fine!
America’s second-largest bank has just been fined more than $1.2 billion by the U.S. Treasury Department and regulators for serious violations of the Bank Secrecy Act and anti-money laundering regulations.
BofA was late in filing reports and failed to flag more than $5 billion in suspicious financial transactions.
Of that amount, around $1 billion was directly linked to national security risks, including Chinese money-laundering networks and illegal financing along the southern border.
This is also the third-largest fine in the history of the U.S. Treasury Department.
America’s second-largest bank has just been fined more than $1.2 billion by the U.S. Treasury Department and regulators for serious violations of the Bank Secrecy Act and anti-money laundering regulations.
BofA was late in filing reports and failed to flag more than $5 billion in suspicious financial transactions.
Of that amount, around $1 billion was directly linked to national security risks, including Chinese money-laundering networks and illegal financing along the southern border.
This is also the third-largest fine in the history of the U.S. Treasury Department.