Aging Committee Chair Collins and Ranking Member Casey Applaud FTC and Justice Department Announcement of Settlement with Western Union on Consumer Fraud Charges
Company will forfeit $586 million to compensate victims of fraud and implement anti-fraud programs to protect seniors
Washington, D.C. — Today, U.S. Senators Susan Collins and Bob Casey, Chairman and Ranking Member of the Senate Aging Committee, applauded the Federal Trade Commission and the United States Department of Justice’s announcement of a settlement with Western Union in which the company admits to criminal anti-money laundering violations that have negatively and disproportionately affected aging Americans.
“This is an encouraging development for America’s seniors and individuals across the country who have been negatively impacted by Western Union’s longstanding failure to protect consumers with proper anti-money laundering and wire fraud programs,” Chairman Susan Collins said. “Americans have long been aware of ‘Grandparent Scams’ that encourage victims to transfer funds to fake family members allegedly in need of assistance. Our committee has worked to shine a spotlight on these criminals, and today’s action by the FTC and DOJ will help bring protections and restitution for innocent victims. We must continue to be vigilant in finding ways to prevent these scams in the future.”