BERLIN (Reuters) -Germany's financial watchdog BaFin said on Thursday it had imposed a fine of 45 million euros ($52.5 million) on Frankfurt-based JPMorgan SE for deficiencies in money-laundering prevention.

BaFin said that JPMorgan ( JPM ) had "systematically" filed so-called suspicious activity reports late in the period from October 2021 though September 2022.

"The fine relates to historical findings and the timing of our SAR filings did not impede any investigations by the authorities," JPMorgan ( JPM ) said in a statement.

"We are deeply committed to detecting, preventing, and reporting money laundering and financial crimes," the bank added.

($1 = 0.8575 euros)