Germany's Federal Financial Supervisory Authority, also known as BaFin, assessed a record €45 million fine against the local affiliate of JPMorgan Chase & Co on Thursday for taking too long to flag suspicious transactions to the country's financial intelligence unit.
In a statement, the regulator noted that Frankfurt-based J.P. Morgan SE breached its anti-money laundering obligations from October 2021 to September 2022 by "systemically" failing to submit STRs "without undue delay." The size of the penalty reflects JPMorgan's large turnover and the pervasive nature of the breaches, BaFin noted.
Thursday fine dwarfs the regulator's previous record, a €9.2 million penalty levied in May 2024 against N26, Germany's largest purely online bank, also over delays in flagging suspicious payments.
- Topics: Anti-Money Laundering and Countering the Finance of Terrorism
- Source: Germany
- Document Date: November 6, 2025
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