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After Sharing Remittance Data, Western Union Faces Scrutiny Over Transfers to China
By Brian Monroe and Colby Adams
printAn agreement by one of the nation's largest money transmitters to improve sharing of transactional data with investigators has resulted in greater scrutiny, both for the business and its chief competitor. Englewood, CO-based Western Union disclosed in a regulatory filing Tuesday that it had received a subpoena in March from the U.S. Attorney's Office for the Central District of California regarding its relationship with Shen Zhou International, a former Monterey Park-based money services business (MSB) agent accused of violating anti-money laundering (AML) laws. In October 2010, California indicted Zi He Wang, the owner of Western Union agent Shen Zhou International,...
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