Amex hit with $350m penalty for AML deficiencies
The Office of the Comptroller of the Currency (OCC), the main banking regulator in the US, has issued a $350m civil money penalty against American Express National Bank for deficiencies in its anti-money laundering (AML) and bank secrecy act (BSA) processes.
We haven't written up this one. Finextra has the full story — the link below goes straight to it.