Western Union Pays $586 Million to Settle Fraud Charges

ronjor · Jan 20, 2017

By Eduard Kovacs on January 20, 2017

Global financial services company Western Union has admitted to facilitating wire fraud and it has agreed to forfeit $586 million as part of a settlement with the U.S. Federal Trade Commission (FTC) and the Department of Justice.
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guest · Mar 11, 2020

First Round of Refunds Totaling $153 Million Sent to Consumers As a Result of Multi-Agency Case Against Western Union
March 10, 2020
https://www.ftc.gov/news-events/pre...ds-totaling-153-million-sent-consumers-result

pproximately $153 million is being mailed to 109,000 consumers in the first distribution of refunds resulting from the law enforcement actions brought against Western Union by the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), and the U.S. Postal Inspection Service. The affected consumers are receiving compensation for 100 percent of their losses.

The FTC’s complaint against Western Union alleged that for many years, Western Union was aware that fraudsters around the world used the company’s money transfer system to bilk consumers, and that some Western Union agents were complicit in the frauds.

“Western Union turned a blind eye to the fraudulent payments made through its money transfer system,” said Andrew Smith, Director of the FTC’s Bureau of Consumer Protection.
“We’re glad to be returning money to those consumers who were ripped off by fraudsters exploiting the Western Union system, and we will not tolerate Western Union or other payment companies facilitating fraud.”
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guest · Sep 24, 2020

Second Round of Refunds, Totaling $147 Million, Sent to Consumers As a Result of Multi-Agency Case Against Western Union
Total refunds sent now total more than $300 million; future refund distributions are planned
September 23, 2020
https://www.ftc.gov/news-events/pre...ds-totaling-147-million-sent-consumers-result

Approximately $147 million is being mailed to 33,000 consumers in the second distribution of refunds resulting from the law enforcement actions brought against Western Union by the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), and the U.S. Postal Inspection Service. Affected consumers are receiving compensation for 100 percent of their verified losses.

The FTC’s complaint against Western Union alleged that for many years, Western Union was aware that fraudsters around the world used the company’s money transfer system to bilk consumers, and that some Western Union agents were complicit in the frauds. The FTC’s complaint alleged that Western Union failed to put in place effective anti-fraud policies and procedures and to act promptly against problem agents.
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Western Union Pays $586 Million to Settle Fraud Charges

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