Bank of America Fined $1.2B by US Regulators Over "Egregious" AML Failures

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Source: Dukascopy Bank SA
Bank of America was fined $1.2bn by US regulators, including a record $750m OCC penalty, over severe AML failures and Bank Secrecy Act violations. The bank failed to monitor trillions in transactions linked to illicit finance, prompting criticism over persistent breakdowns in internal controls.
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