Bank of America fined $1.2bn over failing to stop money laundering
Bank of America has been fined $1.2bn (£910m) for failing to detect potential money laundering and other illegal activity, the US Treasury Department said on Tuesday.
TL;DR
- Bank of America fined $1.2 billion.
- Fine issued by the US Treasury Department.
- Reason for fine: Failure to detect potential money laundering and other illegal activity.