Friday, January 27, 2017
Volume:
33
Issue:
1
Abstract:
On January 19, 2017, the Western Union Company (Western Union), a global money services business headquartered in Englewood, Colorado, agreed to forfeit $586 million and enter into agreements with the Justice Department, the Federal Trade Commission (FTC), and the U.S. Attorney’s Office for the Middle District of Pennsylvania, the Central District of California, the Eastern District of Pennsylvania and the Southern District of Florida. Western Union admits to criminal violations as part of the settlement, including willfully failing to maintain an effective anti-money laundering (AML) program and aiding and abetting wire fraud.