American Express Fined $350M Over Anti-Money Laundering Failures

Key Facts

1US regulators fined American Express $350 million for failing to maintain adequate anti-money laundering controls.

2The OCC flagged approximately $13 billion in suspicious activity that was not adequately reported over the past decade.

US regulators fined American Express $350 million for failing to maintain adequate anti-money laundering controls. Reuters reported that the Office of the Comptroller of the Currency (OCC) and the Federal Reserve announced the enforcement action citing insufficient resources, inexperienced staff, and weak training, which led to gaps in detecting and reporting suspicious financial activities.

The OCC flagged approximately $13 billion in suspicious activity that was not adequately reported over the past decade, noting that the company focused on risks in its small deposit business while neglecting its larger credit card operations. AXP closed at $308.1 on October 8, 2026, while V was trading at $381.92 and MA was trading at $583.355 on October 9, 2026.