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American Express Hit With $350 Million Penalty Over Money Laundering Compliance Failures

Amanda Blankenship

American Express is facing a $350 million penalty after federal regulators identified serious deficiencies in the company’s anti-money laundering controls. The enforcement actions, announced October 8, 2026, involve failures to adequately identify, monitor, and report potentially suspicious financial activity. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) issued separate actions targeting American Express Company and its national bank subsidiary. For

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