American Express fined $350M for decade of suspected money laundering

American Express National Bank processed approximately $13 billion in suspected trade-based money laundering (TBML) between June 2014 and May 2025, including through accounts associated with bank insiders, the Office of the Comptroller of the Currency (OCC) found . The OCC and American Express National Bank have agreed to a consent order that will see American Express pay $350 million for failure to maintain an effective Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) program. Additionally, American Express was the target of a Federal Reserve enforcement action for a similar failure to meet BSA/AML requirements.

Source: Protos