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JP Morgan fined £572m

Investment bank JP Morgan has been fined £572 million ($920 million) by UK and US regulators over the 'London Whale' trading scandal - the nickname of a bond market trader who was reported to be making trades worth up to $10 trillion in April 2012.

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Breakdown of the biggest banking fines

Investment bank JP Morgan's combined £572 million fine today by UK and US regulators over the 'London Whale' trading scandal is the second biggest banking fine, behind HSBC's £1.1 billion money laundering penalty in 2012.

Here is a breakdown of the biggest fines in banking history:

Source: Reuters

  • 1) Bank: HSBC (2012). Fine: £1.1 billion. Reason: Money laundering.
  • 2) Bank: JP Morgan (2013). Fine: £572 million. Reason: 'London Whale' trading scandal.
  • 3) Bank: UBS (2009). Fine: £485 million. Reason: Tax evasion.
  • 4) Bank: Standard Chartered (2012). Fine: £415 million. Reason: Anti-sanctions.
  • 5) Bank: ING (2012). Fine: £385 million. Reason: Anti-sanctions.
  • 6) Bank: Goldman Sachs (2010). Fine: £359 million. Reason: Misleading investors.
  • 7) Bank: Credit Suisse (2009). Fine: £333 million. Reason: Anti-sanctions.
  • 8) Bank: ABN Amro (2010). Fine: £311 million. Reason: Anti-sanctions.
  • 9) Bank: Barclays (2010). Fine: £280 million. Reason: Libor manipulation.
  • 10) Bank: Lloyds Bank (2009). Fine: £218 million. Reason: Anti-sanctions.

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