MoneyGram to pay $125M over wiring scams

The Beaufort Gazette - - News - — WASH­ING­TON POST

MoneyGram In­ter­na­tional has agreed to pay a penalty of $125 mil­lion to set­tle al­le­ga­tions from both the Fed­eral Trade Com­mis­sion and the Depart­ment of Jus­tice that the com­pany didn’t do enough to pre­vent fraud­u­lent money trans­fers.

Un­der an agree­ment with the Fed­eral Trade Com­mis­sion, the com­pany said it would take steps to crack down on scam­mers who got vic­tims to wire them money in schemes that of­ten tar­geted the el­derly and ranged from bo­gus cash prizes, to im­per­son­at­ing of­fi­cials from the IRS to pos­ing as trou­bled rel­a­tives need­ing money.

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