J.P. Morgan faces more regulatory scrutiny

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J.P. Morgan faces more regulatory scrutiny
from MarketWatch.com - MarketPulse
BOSTON (MarketWatch) -- J.P. Morgan is facing further scrutiny from federal regulators, this time over its anti-money laundering practices, according to The Wall Street Journal on Friday. According to the newspaper, the Office of the Comptroller of the Currency is planning to require the bank to strengthen its anti-laundering systems and audit past transactions as part of a larger compliance crackdown on the banking sector. In April, the OCC took similar action against Citigroup Inc. , demanding that the bank upgrade its anti-laundering procedures.