U.S. hits Bank of America with $1.2 billion fine, saying it violated money laundering and sanctions laws
By Paul Wiseman
The fines on America's second-biggest bank amount to the third-largest in the department's history.
Read it in your languageMachine translation by Google of the publisher's page
Explained in this story
Sanctions
Penalties such as trade bans, asset freezes or travel bans imposed by one or more countries on another country, group or person.
Sanctions are used to pressure governments without military action, with costs for both sides.
More about SanctionsMore in Finance
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