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

Key Facts

1U.S. regulators fined American Express $350 million for critical deficiencies in its anti-money laundering compliance programs.

2The bank failed to monitor and report approximately $13 billion in suspicious activity over more than a decade, according to the OCC.

U.S. regulators fined American Express $350 million for critical deficiencies in its anti-money laundering compliance programs. Reuters reported that the Office of the Comptroller of the Currency (OCC) and the Federal Reserve issued a cease-and-desist order against the bank following systemic breakdowns in monitoring suspicious activities. According to the OCC, the bank failed to monitor and report approximately $13 billion in suspicious activity over more than a decade.

AXP closed at $308.17 on October 9, 2026, amid regulatory pressure stemming from failures to properly assess risks in its credit and charge card products. In the same sector, Visa closed at $385.45 and Mastercard closed at $589.14 on the same date. The fine comes as regulators demand the bank submit a detailed action plan to correct compliance deficiencies and strengthen customer due diligence programs.