Fed Fines American Express $350M Over Money Laundering Monitoring Failures

The Federal Reserve Board took enforcement action against American Express, imposing a $350 million fine after finding systemic failures to detect and report about $13 billion in suspicious transactions linked to possible money laundering.

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Oct 8, 3:03 PM	ft.com	Amex fined $350mn for failing to flag suspected money laundering
Oct 8, 1:30 PM	federalreserve.gov	Federal Reserve Board announces enforcement action against American Express Company to address, among other things, the firm’s failure to sufficiently detect and report certain suspicious activity related to money laundering