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Arizona Grants Western Union Extension to Prosecution Agreement
By Colby Adams
printArizona has granted the nation's largest money transmitter an additional three months to improve its anti-money laundering compliance program and avoid criminal prosecution, court documents show. Englewood, CO-based Western Union now has until the end of October to upgrade its suspicious activity monitoring systems, augment and retrain its compliance staff and improve its agent monitoring system, according to a status conference report filed in June in the Superior Court of Arizona. The money services business (MSB) admitted in a February 2010 settlement to failing to sufficiently scrutinize payments linked to human trafficking and drug smuggling. In a regulatory report filed...
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