WESTERN UNION TO YIELD UP USD586 MILLION OVER MONEY LAUNDERING AND FRAUD FAILURES
January 1st, 2017
INTERNATIONAL payment systems company Western Union has agreed to forfeit USD586 million in deferred prosecution agreements (DPA) with US regulators for failing to maintain an effective anti-money laundering (AML) programme and aiding and abetting wire fraud. The Colorado-based money services giant has also agreed to implement reforms improving its AML and anti-fraud systems. The DPA agreements were struck with the US Department of Justice (DoJ), the Federal Trade Commission (FTC), and the US Attorney’s Offices for the Middle District of Pennsylvania, the ...
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