𝕏xUS first seen 7 h ago, last 7 h ago, peak #1

Bank of America hit with $1.2 billion in penalties

Original: Bank of America has been hit with $1.2 billion in penalties after US authorities found major failures in its efforts to

Bank of America has been fined $1.2 billion by US authorities over major failures in its anti-money-laundering controls. The US Treasury said the bank failed to detect and report suspicious financial activity, missing more than $5 billion in suspicious transactions. The penalty is one of the largest of its kind and has drawn attention to how large banks monitor and report potential financial crime.

Why now: The size of the penalty and the scale of unreported suspicious transactions make it a major financial enforcement story.

Bank of AmericaUS Treasury

Open on x →

Evidence

• Bank of America has been hit with $1.2 billion in penalties after US authorities found major failures in its efforts to detect and report suspicious financial activity. The US Treasury said the bank failed to report more than $5 billion in suspicious transactions, including · HardHatVetX · 1

API: https://socialmediatrends-api.osmike.com/v1/trends/2308367