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American Express National Bank has been ordered to pay a $350 million civil money penalty after US banking regulators identified significant weaknesses in its anti-money laundering (AML) compliance programme, including failures to identify, investigate and report approximately $13 billion in suspected trade-based money laundering activity over roughly a decade. The Office of the Comptroller of the Currency (OCC) announced the penalty on October 8, 2026, alongside a cease-and-