Test Your AML IQ

On Jan. 19, 2017, Western Union agreed to pay the U.S. Justice Department and federal regulators ________ to resolve charges that the institution violated anti-money laundering laws and failed to appropriately monitor 550,000 independent agents.

Sorry, your answer is incorrect!

The correct answer is B.

On Jan. 19, Western Union agreed to pay the U.S. Justice Department (DOJ) and federal regulators $ 586 million to resolve charges that the institution violated anti-money laundering laws and failed to appropriately monitor 550,000 independent agents. The money services business also took no action to stop nearly 30 of its agents in California and Pennsylvania that it believed were remitting illicit funds, according to a deferred prosecution agreement.

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