AmEx Admits to Providing Unauthorized Trips to Cuba

In a written statement, American Express spokeswoman Diana Postemsky said the company “voluntarily self-disclosed these bookings to OFAC (Office of Foreign Assets Control), and put in place robust controls to ensure it would not recur.”

American Express is able to provide travel service arrangements for authorized trips to Cuba, but the bookings listed were apparently never approved by the feds, who say AmEx showed “reckless disregard” for the regulations set in place.

In announcing the settlement between AmEx and the U.S. Treasury Department, the latter wrote in a statement that “the apparent violations caused significant harm to U.S. sanctions program objectives regarding Cuba.”

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