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US sues Walmart for allowing fraudulent money transfers

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WASHINGTON, June 29 — US regulators filed a lawsuit Tuesday against retail giant Walmart for allowing fraudulent money transfers that scammed customers out of hundreds of...

WASHINGTON, June 29 — US regulators filed a lawsuit Tuesday against retail giant Walmart for allowing fraudulent money transfers that scammed customers out of hundreds of millions of dollars.

In its lawsuit, the Federal Trade Commission alleged that “for years, the company turned a blind eye while scammers took advantage of its failure to secure the money transfer services offered at Walmart stores,” the agency said in a press release. The FTC accused the mega-retail chain of allowing suspicious transfers, not having an anti-fraud policy and permitting large cash withdrawals.

 

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