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JPMorgan Chase fined record €45m by German regulator for AML failures

JPMorgan Chase logo on a phone screen
The amount is the biggest fine the German regulator has ever imposed on a bank. Photo: Cheng Xin/Getty Images

Hameed Shuja

2 min read
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Wall Street’s largest bank has been accused of delays in SAR submissions in relation to anti-money-laundering and terrorist financing obligations.

Germany’s Federal Financial Supervisory Authority (BaFin) has imposed a record fine of €45m ($51.96m) on JPMorgan Chase for failures in its money laundering prevention processes.

It’s the biggest financial penalty the regulator has ever imposed on a bank, surpassing the previous record of €40m ($46m) it had levied on Deutsche

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