US Govt Fines Bank Of America $1.2bn For Failing To Police Suspicious Activity
LAGOS OCTOBER 14TH (NEWSRANGERS)-Bank of America has been fined $1.21 billion by US regulators for widespread failures to detect potential money laundering and other illicit activity, a penalty the bank said will hurt third-quarter earnings. The Treasury Department said the fine, the third-largest in department history, is due to the bank’s failure to report more…