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MoneyGram DPA extended; company will forfeit $125 million in anti-fraud settlement with DOJ, FTC

( November 8, 2018, 21:03 GMT | Official Statement) -- MLex Summary: MoneyGram, a Texas money services business, must forfeit $125 million in a combined settlement with the US Justice Department and Federal Trade Commission for failing to remedy "significant weaknesses" in its anti-fraud and anti-money laundering programs. Further, a deferred prosecution agreement with DOJ that was to have settled previous charges related to inadequate controls was extended by 30 months. In 2012 the DOJ filed a criminal information against MoneyGram stating that corrupt MoneyGram agents had scammed consumers, falsely posing as victims' relatives in urgent need of money that was to be transmitted by MoneyGram. The firm received a five-year DPA....

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