October 8th 2026, 8:30 PM
Fed Cracks Down on Amex Money Laundering Failures
Key Summary
The Federal Reserve Board has taken enforcement action against American Express Company for its failure to detect and report suspicious money laundering activity, as well as significant deficiencies in its anti-money laundering program. This action aims to ensure the firm complies with US laws and regulations.
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Enforcement Action Against American Express Company
The Federal Reserve Board announced an enforcement action against American Express Company to address its failure to sufficiently detect and report certain suspicious activity related to money laundering.Significant Deficiencies in Anti-Money Laundering Program
The Board also identified significant deficiencies in how American Express Company's enterprise-wide anti-money laundering program was implemented, in particular at the firm's subsidiary national bank.Separate Enforcement Action Against National Bank
The Office of the Comptroller of the Currency, the primary federal regulator of the firm's national bank, has issued a separate enforcement action against the bank.Compliance with US Laws and Regulations
The Board's action will help ensure that the firm operates in compliance with all U.S. laws and regulations.Additional Information
For media inquiries, please email [email protected] or call (202) 452-2955.Contact Information
20th Street and Constitution Avenue N.W., Washington, DC 20551#US#MoneyLaundering#AntiMoneyLaundering