JP Morgan was fined $88.3 million on Thursday in connection with transactions involving Iran, Cuba, and Sudan. JP Morgan will pay the money to the Treasury Department, who called the bank’s actions “egregious” in a statement. The Treasury Department’s Office of Foreign Asset Control said JP Morgan had processed wire transfers in late 2005 and early 2006 totaling around $178.5 million for Cuban nationals, a violation of the U.S.’s embargo laws, and then failed to report the transfers after discovering them. The bank was also fined for a $2.9 million loan to a bank with ties to Iran’s government. In the third incident, the bank reportedly failed to give up documents relating to a wire transfer that referred to Sudan’s capital, Khartoum. The penalty had been lightened because JP Morgan cooperated with the investigation, the Treasury Department said.