American Express National Bank fined $350 million for insufficient anti-money laundering program

American Express (AXP) was fined $350 million by the OCC for deficiencies in its anti-money laundering compliance program, including inadequate staffing, internal control gaps, and weak training. The bank failed to properly monitor and report around $13 billion in suspected trade-based money laundering activity. The OCC issued a cease-and-desist order, and the penalty will go to the U.S. Treasury. AXP shares were down 0.46% in overnight trading.

The OCC and Fed fined American Express $350 million for AML compliance failures. Deficiencies included inadequate resources, poor risk assessment, and breakdowns in monitoring. Amex acknowledged the fines and stated it is working to improve its compliance program.

American Express was fined $350M by U.S. regulators for insufficient anti-money laundering programs, potentially missing $13B in suspicious activity. The OCC cited systemic breakdowns, inadequate resources, and weak internal controls. The company did not admit or deny the findings but committed to improving compliance. The penalty is not expected to affect 2026-2027 guidance, according to the company.

American Express was fined $350 million by regulators for anti-money laundering failures, allowing $13 billion in suspicious activity to go undetected. The OCC and Federal Reserve cited systemic breakdowns in monitoring and reporting. The company agreed to overhaul its controls and will not alter its 2026 financial guidance. Shares fell 2% in after-hours trading.

The Federal Reserve and OCC ordered American Express to improve its anti-money-laundering controls, citing $13B in suspected illicit activity. Amex was fined $350M by the OCC and must submit remediation plans to the Fed. The orders do not affect Amex's 2027 guidance, according to the company.

American Express (AXP) was fined $350M by federal regulators for deficiencies in its anti-money-laundering compliance program, according to a statement on Thursday. The Federal Reserve Board and the Office of the Comptroller of the Currency cited gaps in the company's Bank Secrecy Act and AML controls.