A subsidiary of American Express agreed to pay $430,500 to settle charges its network processed 214 transactions on behalf of a Venezuelan drug kingpin who was designated on the U.S. sanctions list, according to the Treasury Department’s Office of Foreign Assets Control (OFAC).
Walter Marquez was designated to OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List) on May 7, 2018, in connection with illegal drug distribution and money laundering, the regulator stated Friday in an enforcement release.
