Western Union Admits Anti-Money Laundering and Consumer …

Jan 19, 2017 · Western Union Admits Anti-Money Laundering and Consumer Fraud Violations, Forfeits $586 Million in Settlement with Justice Department and Federal Trade Commission. Thursday, January 19, 2017. ... “Western Union owes a responsibility to American consumers …

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Western Union Admits Anti-Money Laundering And Consumer …

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justice.gov

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Western Union Admits Anti-Money Laundering Violations And …

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Jan 19, 2017 · Western Union Admits Anti-Money Laundering Violations and Settles Consumer Fraud Charges, Forfeits $586 Million in Settlement with FTC and Justice Department. ...

ftc.gov

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Western Union Admits Anti-Money Laundering And Consumer …

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Jan 19, 2017 · LOS ANGELES – The Western Union Company, a global money services business headquartered in Englewood, Colorado, has agreed to forfeit $586 million and enter …

justice.gov

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Western Union Forfeits $586M For AML Violations And Consumer …

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In its agreement with the Justice Department, Western Union admits to criminal violations including willfully failing to maintain an effective anti-money laundering program and aiding and …

bankersonline.com

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Western Union To Pay $586m After Illicit Cash Sent To Criminals

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Jan 19, 2017 · Western Union. agreed on Thursday to forfeit $586m after admitting that it violated US anti-money laundering laws by ignoring evidence that thousands of its agents were …

ft.com

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Western Union Admits To Aiding Wire Fraud, To Pay $586 Million

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Jan 19, 2017 · Western Union Co <WU.N>, the world's biggest money-transfer company, agreed to pay $586 million and admitted to turning a blind eye as criminals used its service for money …

yahoo.com

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Western Union To Pay $586M For AML Violations And Consumer …

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Jan 30, 2017 · Western Union, the largest money service business in the world, agreed to a half-billion dollar settlement over charges they failed to protect customers from fraud and permitted …

adiconsulting.com

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Western Union Settlement

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a settlement with Western Union that includes Western Union a $586 million fund to compensate consumer victims of fraudulent schemes that used Western Union’s money transfer services, …

delaware.gov

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Western Union Admits Anti-Money Laundering And Consumer …

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Jan 19, 2017 · News Release: LOS ANGELES - The Western Union Company, a global money services business headquartered in Englewood, Colorado, has agreed to forfeit $586 million …

thefederalnewswire.com

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A Money Laundering Nightmare: Western Union Ponies Up $770 …

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Apr 5, 2017 · Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in …

volkovlaw.com

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Business Screen - What Is AML Compliance & How Does It Work?

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Jan 10, 2025 · In 2017, the global money transfer service Western Union agreed to pay $586 million to settle charges of violating anti-money laundering (AML) laws and consumer fraud …

businessscreen.com

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Lobbying Update: $160,000 Of WESTERN UNION Lobbying Was Just …

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3 days ago · general issues concerning cross-border money transfers; general issues concerning anti-money laundering; taxes and/or fees related to money transfer services; H.R.114 - Fund …

nasdaq.com

FAQs about Western Union Admits Anti-Money Laundering and Consumer … Coupon?

Does Western Union owe consumers a responsibility to protect against fraud?

“Western Union owes a responsibility to American consumers to guard against fraud, but instead the company looked the other way, and its system facilitated scammers and rip-offs,” said FTC Chairwoman Edith Ramirez. ...

Does Western Union have a criminal record?

In its agreement with the Justice Department, Western Union admits to criminal violations including willfully failing to maintain an effective anti-money laundering (AML) program and aiding and abetting wire fraud. ...

Does Western Union have a heightened risk of money laundering?

Western Union knew that gambling transactions presented a heightened risk of money laundering and that through at least 2012, certain procedures it implemented were not effective at limiting transactions with characteristics indicative of illegal gaming from the United States to other countries. ...

Why did fraudsters send money through Western Union?

The fraudsters directed the victims to send money through Western Union to help their relative or claim their prize. Various Western Union agents were complicit in these fraud schemes, often processing the fraud payments for the fraudsters in return for a cut of the fraud proceeds. ...

Did Western Union violate compliance policies?

“Western Union’s failure to implement proper controls and discipline agents that violated compliances policies enabled the proliferation of illegal gambling, money laundering and fraud-related schemes. Western Union’s conduct resulted in the processing of hundreds of millions of dollars in prohibited transactions. ...

How much money has Western Union forfeited?

“Western Union has agreed to forfeit $586 million, the largest forfeiture ever imposed on a money services business, and has agreed to take specific steps to ensure that it complies with the law in the future. ...