It must seem like Jamie Dimon's bad dream.. JPMorgan Chase is
expected to receive an order from regulators to bolster anti-money laundering
systems and examine past transactions, the Wall Street Journal reported, citing
people familiar with the matter.
The Office of the Comptroller of the Currency will give the
cease-and-desist order amid a wider crackdown on the nation’s largest banks,
the people said, according to the newspaper. JPMorgan spokeswoman Kate Haywood
in London declined to comment, as did a spokeswoman in Hong Kong.
Authorities and lawmakers in the U.S. have been increasing
scrutiny of banks’ money-laundering controls. HSBC Holdings Plc (HSBA) said
this month that it’s likely to face criminal charges and the cost of a
settlement may “significantly” exceed the $1.5 billion the London-based bank
has set aside. U.K. rival Standard Chartered Plc (STAN) paid $340 million in
August to settle a New York regulator’s claim it broke Iranian sanctions rules....
No comments:
Post a Comment