Despite his 2008 conviction for soliciting a minor, Jeffrey Epstein continued for years to move enormous sums through the American and international banking system, maintaining relationships with giants such as JP Morgan Chase, Deutsche Bank, BNY, and Bank of America. According to findings by the Senate Finance Committee and regulatory authorities, suspicious activity reports in certain cases were filed only after his arrest and death in 2019, retrospectively covering transactions reaching as much as 1.3 billion dollars. In this context, lawmakers and plaintiffs argue that the banks did not implement adequate know-your-customer and anti-money laundering controls, and that they delayed submitting suspicious activity reports.
To date, regulatory action has remained limited. Deutsche Bank is the only bank that has faced explicit enforcement action by a regulatory authority directly linked to its transactions with Epstein. The German banking giant was fined 150 million dollars in July 2020, due to “significant compliance failures,” as the bank processed hundreds of transactions totaling millions of dollars despite Epstein’s criminal background.
Other banks, including JPMorgan Chase, BNY, and Bank of America, have been accused by American lawmakers or plaintiffs of compliance failures but have not been penalized by regulators in connection with Epstein.
Document disclosures and letters from Congress describe activities that, according to legislators, should have triggered enhanced scrutiny, such as structured cash withdrawals, settlement payments, and transfer patterns presented as consistent with money laundering.
JP Morgan
JPMorgan Chase was Epstein’s primary bank for years before ending the relationship in 2013, citing reputational concerns. A memorandum by the Democratic staff of the Senate Finance Committee in 2025, released by Wyden, stated that the bank classified only a small portion of transactions linked to Epstein as suspicious while he was alive and submitted retrospective reports after his death, covering nearly 1.3 billion dollars in transactions from 2003, a gap which, according to Wyden, raises questions about whether “enhanced monitoring” had substantive meaning.
JP Morgan has denied responsibility or knowledge of Epstein’s crimes. In 2023, it agreed to settlements totaling 365 million dollars to resolve lawsuits filed by alleged victims and the United States Virgin Islands, without admitting wrongdoing.
Deutsche Bank
Deutsche Bank took on Epstein as a client after JP Morgan ended its relationship with him. In an enforcement action in July 2020, the New York State Department of Financial Services stated that Deutsche Bank’s failures were exacerbated by procedural errors and inadequate controls. The authority cited transactions including payments to women allegedly involved in the abuse of minor victims, as well as settlement payments exceeding 7 million dollars.
The NYDFS also stated that the bank processed payments for hotels, rent, and educational expenses, including tuition, and identified related compliance failures connected to Deutsche Bank’s correspondent banking relationships with the Estonian branch of Danske Bank and FBME Bank.
Deutsche Bank has stated that it regrets the relationship, that it cooperated with regulators, law enforcement authorities, and Congress, and that it sought to address the issues. In 2023, it settled with Epstein’s accusers for 75 million dollars.
BNY
Wyden expanded his investigation into BNY in January 2026, sending a letter to CEO Robin Vince, stating that the bank waited until 2019, after Epstein’s arrest, to submit suspicious activity reports covering 270 transfers totaling 378 million dollars over several years.
Wyden’s letter highlighted repeated “round dollar” transfers, including a series of 1 million dollar payments in 2007 from Epstein’s account at BNY to accounts he held at JP Morgan, which, according to him, the bank did not report in a timely manner.
Bank of America
Bank of America faces renewed civil litigation risk over its transactions with Epstein. In January 2026, a federal judge in New York allowed certain parts of a lawsuit filed by an anonymous plaintiff to proceed, including claims that the bank knowingly benefited from Epstein’s conduct and obstructed enforcement of federal sex trafficking laws, while dismissing other claims.
The case is scheduled for trial on 11 May 2026.
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