That B of A is doing stuff like this makes me very mad. Fines are not enough. Executives need to be tried for crimes. US hits Bank of America with $1.2 billion fine over money laundering | AP News
The U.S. Treasury Department said Tuesday that it’s imposing $1.2 billion in fines on Bank of America for allegedly violating anti-money laundering and sanctions laws.
They were apparently providing support to Iran, and Russia, as well as helping with Chinese money laundering.
Treasury said Bank of America also reached an $11.6 million settlement with the department’s Office of Foreign Assets Control over “apparent violations of numerous sanctions programs, including on Iran, Russia, narcotics, and global terrorism.”
Executives should not get a pass on aiding global terrorism.
Click thru for details. (Hat tip to ParlerNews.)
Frick'n wrist slap.
ReplyDeletePerp-walk the entire Executive Suite and Board of Directors plus everyone in management chain AND the entire offending department and it might make an impression. Lifetime bans from the financial industry for EVERY one of them.