Monday 28 July 2014

JPMorgan to pay $1.7bn to settle Madoff case

New York, January 7, 2014

JPMorgan Chase & Co will pay $1.7 billion to settle US charges it violated laws requiring banks to monitor customer activity for money laundering in its handling of accounts of convicted Ponzi-schemer Bernard Madoff, authorities said on Tuesday.

The deal includes a two-year deferred prosecution agreement and settles outstanding probes by two bank regulators into failures in JPMorgan's anti-money laundering policies. The bank agreed to improve its controls. - Reuters

Tags: money laundering | JP Morgan | Madoff |


calendarCalendar of Events


Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on