U.S. prosecutors are examining whether JPMorgan Chase & Co (JPM.N) fully alerted authorities to suspicions about fraudster Bernard Madoff, the New York Times reported, citing several people with direct knowledge of the matter. The prosecutors suspect JPMorgan may have violated a federal law that requires banks to alert authorities to suspicious transactions, the newspaper reported. “We believe that the personnel who dealt with the Madoff issue acted in good faith in seeking to comply with all anti-money laundering and regulatory obligations,” JPMorgan spokesman Joe Evangelisti told the newspaper. More on Reuters here.
