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US Treasury Department Settles with Former MoneyGram Compliance Chief

By Daniel Bethencourt

MoneyGram's former chief compliance officer failed to overcome resistance by the firm's sales division against disciplining and terminating agents and outlets suspected of facilitating fraudulent transfers, according to a settlement filed in federal court Wednesday. Thomas Haider, who had notched 16 years at MoneyGram by the time he resigned from the Dallas-headquartered remittance firm in 2008, consented to a $250,000 civil monetary penalty and a 3-year ban from working as a compliance officer to resolve claims by the department's Financial Crimes Enforcement Network that he enabled a $128 million telemarketing fraud. The settlement marks the end of contentious legal battle...

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