SMC-1034BanksCase file
Western Union: $586 million forfeiture for failing to stop fraud
Western Union admitted that from 2004 to 2012 it processed hundreds of thousands of transactions tied to scams in which fraudsters posed as relatives in need or promised prizes or jobs. Some of its agents processed the payments in return for a cut, and the company failed to ac…
Reported: The Western Union Company
- Reported losses
- $586M
- People affected
- 0 affected