The record
Its consent order describes approximately $13 billion in suspected trade-based laundering activity processed between June 2014 and May 2025. That figure combines suspicious card charges and related repayments; it should not be treated as a separate, unduplicated total of criminal proceeds. [2]
The bank neither admitted nor denied the findings. CEO Stephen Squeri said American Express would continue addressing the concerns and improving compliance, Reuters reported. [2][3]
Based on reporting from: OCC release — 8 October 2026; OCC consent order — AA-ENF-2026-46; Reuters / StreetInsider — 8 October 2026.
Source documents
03File updates
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Editorial note
The $350 million figure is a civil money penalty. The approximately $13 billion described in the order is a different transaction measure, including card charges and repayments. The bank neither admitted nor denied the findings.
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