JPMorgan Faces Order on Anti-Money Laundering, WSJ Says
This article is for subscribers only.
JPMorgan Chase & Co. 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.