Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: American Express National Bank
Current Parent Company: American Express
Penalty: $430,500
Year: 2022
Date: July 15, 2022
Offense Group: financial offenses
Primary Offense: economic sanction violation
Violation Description: American Express National Bank, a subsidiary of American Express Company, which provides charge and credit card products and travel-related services to consumers and businesses, agreed to remit $430,500 to settle its potential civil liability for 214 apparent violations of OFAC's Kingpin sanctions. Over the course of two months, Amex processed transactions for an account whose supplemental card holder was designated in connection with illegal drug distribution and money laundering.
Level of Government: federal
Action Type: agency action
Agency: Office of Foreign Assets Control
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.