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American Express fined $350 million over anti-money-laundering failings
Reuters and the FT reported on 8 October that American Express has been fined $350 million for an insufficient anti-money-laundering programme. FinancialJuice reported that the Federal Reserve announced an enforcement action against the company on money laundering.
Large fines for weak financial-crime controls show that regulators in the U.S. are still pressing on compliance in the card business.
Little changes for cardholders. The firm will have to improve its checks.
Look for the wording of the Fed order and any remedial steps the firm must take.
DailyDrop U.K. edition No. 5 · Morning · FRI., OCT. 9, 2026