The Bank of America gets a high fine. It must pay 1.2 billion dollars. The finance ministry of the USA decides this. It is one of the highest fines ever.
The bank breaks rules against money laundering. It does not report bad deals. These deals are worth more than 5 billion dollars. Some deals threaten the safety of the land.
The bank breaks rules for sanctions too. This affects lands like Iran and Russia. Experts from outside must check the bank now.
The Bank of America is very big. It is number 2 in the USA. The bank says it invests much money. It wants to use modern tech against crimes.
The fine hurts the profit of the bank. People see this in the new numbers. The bank knows about problems for a long time. It does not do enough against them.
