LONDON, Aug 22 (Reuters) - Swiss federal prosecutors on

Friday said they had convicted JP Morgan of failing to

prevent aggravated money laundering related to the scandal at

Malaysian state fund 1MDB, and fined the U.S. bank 3 million

francs ($3.7 million).

The Office of the Attorney General of Switzerland said it

had issued a summary penalty order against the bank for "failing

to take all reasonable and necessary organizational measures to

prevent the commission of aggravated money laundering." The

transfer of funds related to the acts occurred between October

2014 and July 2015, the prosecutor said.

It had launched criminal proceedings against JP Morgan

Suisse in 2022.

The size of the fine took into account the time lapsed and

the bank's cooperation, the prosecutor added.

In a statement, JP Morgan said it was pleased to have

resolved matters including working with the Malaysian government

on past issues related to 1MDB.

"Since then, we've enhanced our controls, earning the trust

of regulators in Switzerland and beyond," the bank said.

($1 = 0.8089 Swiss francs)