American Express National Bank — $430,500 OFAC penalty
OFAC published a $430,500 civil penalty against American Express National Bank on 07/15/2022. It is the #146 largest action in OFAC’s 1,052-entry enforcement chart and #6 of the 14 actions published that year.
The record
| Entity, as published by OFAC | American Express National Bank |
|---|---|
| Penalty / settlement amount | $430,500 |
| Date published by OFAC | 07/15/2022 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #146 of 1,052 |
| Rank within 2022 | #6 of 14 |
| Share of 2022 penalty total | 1.0% |
| Apparent violations cited | 214 |
| Statutory maximum penalty | $331,288,050 |
| Base penalty | $574,000 |
| Voluntarily self-disclosed | No |
| OFAC egregiousness determination | Non-egregious |
| Sanctions programs named in the release | Venezuela |
Settlement against statutory maximum
OFAC put the statutory maximum civil monetary penalty for this case at $331,288,050. The settled amount of $430,500 is 0.1% of that maximum, which OFAC's Enforcement Guidelines tie to factors including voluntary self-disclosure and whether the conduct was egregious.
Primary source
OFAC enforcement release: 20220715_amex.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Other published actions involving this name
- American Express Travel Related Services Company, Inc. — $5,226,120 on 07/22/2013
- American Express Company, Inc. on behalf of American Express, S.A. de C.V. — $18,391 on 09/03/2004
- American Express Travel Related Services Co., Inc. — $16,625 on 08/03/2007
- American Express Company, Inc. on behalf of American Express Bank Ltd. — $5,500 on 09/03/2004
- American Express Bank Ltd. — $5,041.50 on 05/07/2004
- American Express Bank, Ltd. — $3,291.26 on 02/06/2004
- American Express Company, Inc. on behalf of American Express Bank Ltd. — $2,750 on 09/03/2004
Matched on the entity name OFAC published. Similar names do not always mean the same legal entity — check each release.
Comparable 2022 actions
- CFM Indosuez Wealth — $401,039
- Payward, Inc. (“Kraken”) — $362,158.70
- Banco Popular de Puerto Rico — $255,937.86
- Newmont Corporation — $141,442
- CA Indosuez Switzerland S.A. — $720,258
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