Bank of America Fined $1.2 Billion for Money-Laundering, Sanctions Violations
US authorities fined Bank of America $1.2 billion for violating money-laundering regulations and sanctions laws, as Senator Elizabeth Warren continues to criticize crypto over illicit finance risks.
BAC
US authorities have imposed a $1.2 billion fine on Bank of America for violating money-laundering regulations and sanctions laws.
The enforcement action follows repeated statements by Senator Elizabeth Warren that cryptocurrency is used for money laundering and sanctions evasion.
The penalty against one of the largest US banks underscores that traditional financial institutions also face significant enforcement in these areas.
Source: Watcher Guru