Amex dinged by Fed, OCC; must pay $350M for AML failures

T2Covered by 1 source · first reported by Payments Dive / Banking Dive at 08 Oct, 20:59 UTC

Regulators identified “significant deficiencies” in how the American Express’s enterprise-wide, anti-money laundering program was implemented, in particular at the firm's subsidiary national bank.

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Sources

• T2Amex dinged by Fed, OCC; must pay $350M for AML failuresPayments Dive / Banking Dive08 Oct, 20:59