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Business Bank of America fined US$1.21 billion over money laundering failures
Bank of America fined US$1.21 billion over money laundering failures

The US Treasury fined Bank of America US$1.21 billion for failing to report over US$5 billion in suspicious activity, including US$1 billion tied to national security risks. The penalty, the third-largest in Treasury history, includes a record US$750 million civil penalty from the OCC.

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