BoA fined $1.2bn over “egregious” AML deficiencies

BoA fined $1.2bn over "egregious" AML deficiencies

Bank of America (BoA) has been fined $1.2bn for its "deficient and ineffective" anti-money laundering (AML) process as well as "egregious and continued" violations of the Bank Secrecy Act (BSA).

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Source: Finextra
Original article: https://www.finextra.com/newsarticle/48579/boa-fined-12bn-over-egregious-aml-deficiencies?utm_medium=rssfinextra&utm_source=finextrafeed