"Bank of America" ​​was fined $1.2 billion due to violation of money laundering regulations and sanctions. The US Department of the Treasury announced the imposition of fines of more than one billion and 200 million dollars against "Bank of America" ​​due to violations of anti-money laundering laws and American sanctions, including those related to Iran and Russia. The office announced on Tuesday, October 13 that Bank of America, the second largest bank in the United States, failed to identify and report more than five billion dollars in suspicious transactions. According to American officials, some of these transactions have signs of the activity of Chinese money laundering networks and illegal financial flows in the southwestern border areas of the United States and created risks to the national security of this country. The majority of the $1.2 billion fine was determined by the US Treasury Department's Financial Crimes Enforcement Network. This amount includes the $750 million fine of the Foreign Exchange Office, which is one of the main institutions that oversees American banks. Also, the US Treasury's Office of Foreign Assets Control, OFAC, announced that Bank of America agreed to pay more than 11 million and 600 thousand dollars to settle the case of a possible violation of sanctions programs. According to the announcement of this organization, the aforementioned case includes 475 cases of possible violations of sanctions related to Iran, Russia, Belarus, Myanmar and Somalia, as well as sanctions related to drug trafficking and international terrorism. Read the full version of this report on the Radio Farda website.

"Bank of America" ​​was fined $1.2 billion due to violation of money laundering regulations and sanctions. The US Department of the Treasury announced the imposition of fines of more than one billion and 200 million dollars against "Bank of America" ​​due to violations of anti-money laundering laws and American sanctions, including those related to Iran and Russia. The office announced on Tuesday, October 13 that Bank of America, the second largest bank in the United States, failed to identify and report more than five billion dollars in suspicious transactions. According to American officials, some of these transactions have signs of the activity of Chinese money laundering networks and illegal financial flows in the southwestern border areas of the United States and created risks to the national security of this country. The majority of the $1.2 billion fine was determined by the US Treasury Department's Financial Crimes Enforcement Network. This amount includes the $750 million fine of the Foreign Exchange Office, which is one of the main institutions that oversees American banks. Also, the US Treasury's Office of Foreign Assets Control, OFAC, announced that Bank of America agreed to pay more than 11 million and 600 thousand dollars to settle the case of a possible violation of sanctions programs. According to the announcement of this organization, the aforementioned case includes 475 cases of possible violations of sanctions related to Iran, Russia, Belarus, Myanmar and Somalia, as well as sanctions related to drug trafficking and international terrorism. Read the full version of this report on the Radio Farda website.