INSIGHT: Questions over American Express board as it misses $13 billion in suspected money laundering

Regulatory Watch News

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  Spain: Company and director found guilty of claiming salary costs twice from national and EU funds

  European Public Prosecutor's Office

  October 9, 2026

  (Luxembourg, 9 October 2026) – A company and its director were found guilty of declaring salary costs already covered by national subsidies as costs under an EU-funded project, following an indictment by the European Public Prosecutor’s Office (EPPO) in Madrid (Spain). The company received EU funding to cover the costs of implementing a project under the Horizon 2020 Programme aimed at repairing returnable plastic packaging. At the same time, the company received financial assistance from the Government of Navarra to promote employment, specifically grants for hiring young people under the age of 30 and to support companies’ international trade.

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  OCC Assesses $350 Million Civil Money Penalty Against American Express

  OCC

  October 9, 2026

  WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a cease-and-desist order and a $350 million civil money penalty against American Express National Bank, Sandy, Utah (bank), for deficiencies in the bank’s Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance program. The OCC determined that the bank failed to establish and maintain a BSA/AML compliance program reasonably designed to assure and monitor compliance with the BSA and its implementing regulations. Deficiencies in the Bank’s BSA/AML program involved inadequate resources, including staff without sufficient expertise, systemic internal control gaps, weak independent testing, and weak BSA/AML training for employees and directors.

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  Anti-corruption body GRECO closes compliance procedure concerning Denmark

  GRECO

  October 9, 2026

    The Council of Europe’s Group of States against Corruption (GRECO) has closed its 4^th round compliance procedure in respect of Denmark , which examined the prevention of corruption in respect of members of parliament, judges and prosecutors. In a report made public today, GRECO deeply regrets that twelve years after the adoption of the Fourth-Round Evaluation Report, none of its recommendations addressed to members of parliament have been fully implemented. It is essential that a Code of Conduct for members of parliament is issued , supported by counselling, awareness-raising, and effective supervisory measures.