Bank of America just paid $1.
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Bank of America just paid $1.2 billion for willfully violating the Bank Secrecy Act, failing to report $5B+ in suspicious transactions tied to money laundering networks over 7 years.
No one is going to jail. They booked the fine as a line item and sent $8.3 billion back to shareholders in the same quarter.
Meanwhile Keonne Rodriguez and Bill Hill, the founders of Samourai Wallet, are sitting in federal prison for building non-custodial software that never touched a dime of anyone's money. FinCEN itself said Samourai wasn't a money transmitter. Prosecutors charged them anyway.
BofA is a licensed money transmitter that willfully broke the law for years and walked. Two developers who wrote open source code got caged.
Two-tier justice system. Be aware, freaks.
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