Germany’s Federal Financial Supervisory Authority, or BaFin, announced that it has imposed an administrative fine of 45 million euros on J.P. Morgan SE, domiciled in Frankfurt am Main. The administrative fine was imposed due to shortcomings in the company’s money laundering prevention, BaFin said in a statement. The credit institution culpably breached its supervisory obligations regarding internal processes for the submission of suspicious transaction reports. As a result of these procedural shortcomings, in the period from October 4, 2021 to September 30, 2022, J.P. Morgan SE systemically failed to submit suspicious transaction reports without undue delay. The administrative fine notice became final and binding on October 30, 2025.
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