Moneygram to forfeit millions

Daniel Gutierrez

Moneygram to forfeit millions

CREATED Nov. 12, 2012

Moneygram is forking over $100 million. The payment transfer company admits it aided in wire fraud and failed to maintain an effective anti-money laundering program.

The company has received thousands of complaints from victims of the fraud. But the U.S. Justice Department says Moneygram failed to terminate the employees who were involved. The $100 million will be used to compensate victims.

 

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