American Express fined US$350M 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 $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.

American Express (AXP) was fined $350 million by regulators for inadequate anti-money laundering controls, failing to monitor and report $13 billion in suspected activity over 11 years. The OCC cited systemic weaknesses in monitoring, customer identification, and internal controls. AXP shares fell 2% in extended trading. The company stated the penalty won't affect its 2026 or 2027 financial guidance.