The Federal Reserve Board has taken enforcement action against American Express Company after identifying failures to sufficiently detect and report certain suspicious activity related to money laundering and significant deficiencies in its enterprise-wide anti-money laundering program, particularly at its national bank subsidiary, which is subject to a separate enforcement action by the Office of the Comptroller of the Currency.
Federal Reserve Board takes enforcement action against American Express over anti-money laundering deficiencies
The Federal Reserve Board has taken enforcement action against American Express over deficiencies in detecting and reporting certain suspicious activity and implementing its enterprise-wide anti-money laundering program, particularly at its national bank subsidiary.