Overview

• A joint statement said the deal resolves all existing and potential claims and bars future litigation tied to 1MDB.
• Both sides will withdraw pending appeals related to the 2021 lawsuit against J.P. Morgan (Switzerland) Ltd.
• The settlement totals 1.4 billion ringgit and follows Malaysia’s suit that had sought $800 million from the bank’s Swiss unit.
• Switzerland’s Attorney General fined JPMorgan’s Swiss unit 3 million francs for organizational lapses that enabled suspicious 1MDB-linked transfers between 2014 and 2015.
• JPMorgan said the payment is made without admission of liability and noted it has strengthened compliance controls.