Senate report ties 3 big banks to years of missed Epstein alerts
Why it matters: Democrats want a Justice Department review after the report traced thousands of suspicious transactions totaling more than $1 billion.
Senate Democrats released a report alleging JPMorganChase, Bank of America and Deutsche Bank failed for years to promptly flag suspicious Jeffrey Epstein transactions, even as bankers raised concerns internally as far back as 2002. The report, released by Sen. Ron Wyden of Oregon, says more than a dozen bankers were aware of red flags but many suspicious activity reports were not filed until after Epstein was arrested on sex-trafficking charges in 2019. Democrats on the Senate Finance Committee are urging the Justice Department to examine the delayed reporting and tighten anti-money-laundering rules. Deutsche Bank said it regrets its historical connection to Epstein, while Bank of America denied wrongdoing. JPMorganChase did not respond to NPR.