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Western Union to forfeit $586 million for criminal anti-money laundering violations

( January 19, 2017, 18:00 GMT | Official Statement) -- MLex Summary: Western Union has agreed to forfeit $586 million and enter into agreements with the US Justice Department, the US Federal Trade Commission , and the U.S. Attorney's Offices for the Middle District of Pennsylvania, the Central District of California, the Eastern District of Pennsylvania and the Southern District of Florida.  In its agreement with DOJ, Colorado-based Western Union admits to criminal violations including willfully failing to maintain an effective anti-money laundering program and aiding and abetting wire fraud. WESTERN UNION ADMITS ANTI-MONEY LAUNDERING AND CONSUMER FRAUD VIOLATIONS, FORFEITS $586 MILLION IN SETTLEMENT WITH JUSTICE DEPARTMENT AND FEDERAL TRADE COMMISSION...

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