Bank of America hit with $1.2bn fine for money laundering failings
The bank inadequately flagged transactions linked to potential Chinese money laundering networks, the Treasury said.
BBC News reports that the bank inadequately flagged transactions linked to potential Chinese money laundering networks, the Treasury said.
This business story centres on China. Names and organisations mentioned in the coverage include Bank of America, Chinese and Treasury.
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Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- China · Asia
- Reported by
- BBC News
- First reported
- Key names
- Bank of America, Chinese, Treasury
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
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