JPMorgan Chase & Co has agreed to a $2.6 billion deal with the U.S. government and Bernard Madoff victims relating to allegations that the bank failed to notify authorities about its suspicions of fraud at Madoff’s fund.

According to government prosecutors, the bank did not at any point notify them of their doubts, even as it took measures to minimise its exposure to Madoff’s fund and cut its losses, which still amounted to a $17.3 billion Ponzi scheme.

Speaking at a press conference, Manhattan U.S. Attorney Preet Bharara stated that “the bank connected the dots when it mattered to its own profit but was not so diligent when it came to its legal obligations.” Bharara also said that “in part because of that failure, for decades, Bernie Madoff was able to launder billions of dollars in Ponzi proceeds essentially through a single set of accounts at JPMorgan.”

The bank’s settlement with the Department of Justice alone amounts to $1.7 billion, not including charges against individuals, and sets a new record for payments regarding anti-laundering violations.

And this case is not the only one plaguing the mega-bank these days. Just last November the bank enter a settlement deal with the U.S. government of $13 billion regarding the bank’s mortgage bonds. JPMorgan, morever, still has at least eight more government probes to go through, that cover all aspects of its global operations.