American Express National Bank has been ordered by the Office of the Comptroller of the Currency (OCC) to pay $350 million for failing to maintain an effective anti-money laundering program. Between June 2014 and May 2025, the bank processed approximately $13 billion in suspected trade-based money laundering, including transactions involving bank insiders. The Federal Reserve has also taken enforcement action against American Express for similar failures to meet Bank Secrecy Act requirements. This penalty does not impact the company’s guidance for 2026 and is not anticipated to affect 2027 guidance.
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