American Express controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
OCC fines American Express $350 million over anti-money laundering control failures
Fine or penalty
The Office of the Comptroller of the Currency fined American Express $350 million over what it described as widespread failures in the company's anti-money laundering controls. According to the regulator, approximately $13 billion in suspected money laundering activity was inadequately monitored and reported over a period of nearly 11 years, from June 2014 to May 2025. American Express agreed to the enforcement order without admitting or denying the regulator's findings. The penalty and the accompanying enforcement order constitute a regulatory action affecting the American Express brand.
Company response
Clarification — American Express
American Express said in a statement that it identified weaknesses in its Financial Crimes Compliance program through internal and external reviews.
Investigation — American Express
We also investigated transactions that we identified being processed over our network by individuals misusing our products for the purchases of goods and services, reported that information to law enforcement, and took other appropriate action
Remediation — American Express
Under the order, American Express must overhaul its anti-money laundering controls, improve its monitoring of suspicious transactions, and strengthen oversight of potentially illicit insider activity.
Source excerpt
American Express agreed to the OCC's enforcement orders without admitting or denying the regulator's findings.
Regulators fined American Express (AXP) with a $350 million penalty Thursday over widespread failures in its anti-money laundering controls that left approximately $13 billion in suspected money laundering activity inadequately monitored and reported over nearly 11 years.
Between June 2014 and May 2025, the bank processed approximately billions in suspected trade-based money laundering activity, including suspicious card charges and repayments, according to the OCC's order.
2026
American Express fined US$350 million for anti-money laundering lapses
Fine or penalty
US federal regulators fined American Express US$350 million for failing to catch and report money laundering. The OCC cited deficiencies in the bank's compliance programmes and systemic breakdowns in suspicious activity monitoring and reporting that failed to timely identify, evaluate, and sufficiently report approximately US$13 billion of suspected trade-based money laundering activity over the past decade; the Federal Reserve separately announced an enforcement action linked to the firm's anti-money laundering programme. Amex said the penalty will not impact the full-year 2026 guidance it previously issued and that no asset cap was imposed.
Company response
Clarification — American Express
Amex said in a regulatory filing that the penalty will not impact the full-year 2026 guidance it previously issued and the orders do not impose an asset cap on the firm.
Investigation — American Express
We also investigated transactions that we identified being processed over our network by individuals misusing our products for the purchases of goods and services, reported that information to law enforcement, and took other appropriate action
Remediation — American Express
While we have made meaningful progress, we know there is more work to do.
Source excerpt
The US Office of the Comptroller of the Currency (OCC) cited the bank for deficiencies in its compliance programmes, according to a statement on Thursday (Oct 8).
The Federal Reserve announced a separate enforcement action against the New York-based company linked to its anti-money laundering programme, in particular at the firm’s national bank subsidiary.
2021
ICO fines American Express Services Europe over marketing emails
Fine or penalty
The UK Information Commissioner’s Office fined American Express Services Europe £90,000 after it sent more than four million marketing emails to customers who did not want them. American Express disputed that the emails were marketing, but the ICO determined they constituted a marketing effort.
Company response
Denial — American Express
Amex rejected these complaints, saying the emails were about “servicing” rather than marketing, according to the ICO.
Source excerpt
The Information Commissioner’s Office (ICO) fined American Express Services Europe (Amex) £90,000 after it sent over four million marketing emails to customers who did not want them.
However, the ICO disagreed, claiming that a little over four million of the 50 million emails sent as part of this campaign were “a deliberate action for financial gain by the organization” — and as such constituted a marketing effort.
Amex rejected these complaints, saying the emails were about “servicing” rather than marketing, according to the ICO.
2015
U.S. judge rules American Express violated antitrust laws
Ruling
A federal judge ruled that American Express violated U.S. antitrust laws by barring merchants from encouraging customers to use one credit card over another. The judge said the policies harmed competition and prevented merchants from trying to lower processing costs.
Source excerpt
U.S. District Court Judge Nicholas Garaufis said in his ruling that American Express nondisclosure policies harmed competition and prevented merchants from trying to lower their credit card processing costs.
1989
Edmond Safra smear campaign
After American Express acquired Trade Development Bank of Geneva, false allegations concerning banker Edmond Safra were circulated to news organizations, including claims involving criminal and intelligence-related activity. American Express later acknowledged the campaign, its public-relations chief resigned, and the company apologized to Safra and made an $8 million charitable donation selected by him.