DOJ - U.S. Department of Justice
American Express alledgedly engaged in mis-selling by falsely promoting tax benefits tied to wire products. Hundreds of salespeople were trained to mislead clients, resulting in substantial financial harm. AMEX agreed to pay over $138 million to resolve the wire fraud investigation without prosecution.
Scenario: Conduct / Misselling RetailTo read more operational risk news, register for free on MSTAR Platform.
Register for free