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“…Treasury Secretary Scott Bessent said: "When a bank of this size fails to meet its anti-money laundering and sanctions obligations, the consequences extend far beyond its own walls, exposing the entire US financial system to significant illicit finance…”

“The US 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.”

“The China national narcotics control commission said the move was part of intensified efforts to stop chemicals with potential uses in illegal drug production from reaching illicit channels, state-run Xinhua news agency reported.”