re: Epstein : JP Morgan Reported >$1 B in Financial Transactions To US Treasury

I’m not discounting that people within JPMC may have known what Epstein was up to (many within JPMC knew about Madoff after all); however, them filing after the fact is common practice within the banking industry when significant adverse media about a client comes to light.

In the industry this would be called a trigger event, and their compliance teams go back through historical activity to determine whether any transaction activity relevant to the adverse media flowed through the institution and was missed through regular transaction surveillance processes.

It is a bit of a CYA exercise (as another poster mentioned), but it is part of most these large financial institutions standard AML/ financial crimes compliance practices as a sort of stop gap detective control.