Business ProfileforMoneyGram
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On November 8, 2018, a joint motion was filed against MoneyGram International, Inc. ("MoneyGram"), where the company agreed to the entry of a monetary judgment for compensatory relief in the amount of $125 million with the Federal Trade Commission (FTC) and Department of Justice (DOJ).
The $125 million payment settles allegations that the company failed to take steps required under a 2009 FTC order to crack down on fraudulent money transfers that cost U.S. consumers millions of dollars. Furthermore, MoneyGram has also agreed to the entry of an order modifying the 2009 Order to include a broader range of relief, including a requirement to interdict (or block) the transfers of known fraudsters and provide refunds for non-compliance with certain policies and procedures.
Additionally, MoneyGram agreed to extend its deferred prosecution agreement, for a period of 30 months, with the Department of Justice (DOJ) and forfeit the $125 million due to significant weaknesses in MoneyGram's anti-fraud and anti-money laundering (AML) program. In addition to the monetary payment and extension of the deferred prosecution agreement, the company must enhance its anti-fraud and AML compliance programs.
The department intends to return the money forfeited from MoneyGram, to victims of fraud through the Justice Department's Victim Compensation program.
For more details on the FTC's Press Release, please go to:
https://www.ftc.gov/news-events/press-releases/2018/11/moneygram-agrees-pay-125-million-settle-allegations-company?utm_source=govdelivery
For more details on the DOJ's Press Release, please go to:
https://www.justice.gov/opa/pr/moneygram-international-inc-agrees-extend-deferred-prosecution-agreement-forfeits-125-million?utm_source=govdelivery
At-a-glance
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Business Details
This is a multi-location business.
- Headquarters
- 2828 N Harwood St Fl 15, Dallas, TX 75201-1518
- BBB File Opened:
- 5/19/2010
- Years in Business:
- 20
- Business Started:
- 12/18/2003
- Business Started Locally:
- 12/18/2003
- Business Incorporated:
- 12/18/2003 in DE, USA
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Corporation
- Contact Information
Principal
- Ms. Cory Feinberg, Sr. Legal Counsel - Litigation
Customer Contact
- Natali Aleman
- Additional Contact Information
Email Addresses
- Primary
- Other
Customer Complaints
0 Customer Complaints
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