American Express's forex unit being probed by FBI over pricing practices - WSJ

FILE PHOTO: The logo of Dow Jones Industrial Average stock market index listed company American Express (AXP) is seen in Los Angeles, California, United States, April 25, 2016. REUTERS/Lucy Nicholson/File Photo - Copyright Lucy Nicholson(Reuters)

By Reuters

Published on 05/09/2018 - 23:34•Updated 25/04/2024 - 10:14

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(Reuters) - Pricing practices within American Express Co's <AXP.N> foreign-exchange unit is being probed by the Federal Bureau of Investigation (FBI), the Wall Street Journal reported, citing people familiar with the matter.

The investigation is in its early stages and is focussed on whether the foreign-exchange international payments department misrepresented pricing to clients in order to win their business, the Journal reported.