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).
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:... More by Aaron Nicodemus
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