Arizona fines Western Union/First Data over illegal immigration
Posted Sun, Sep 9, 2006 at 2:26 am
Western Union has reached a $3 million settlement with Arizona financial regulators on charges the money transfer company failed to comply with state reporting laws intended to combat money laundering and illegal immigration.
In an agreement with the state Department of Financial Institutions, Greenwood Village, Colo.-based Western Union Financial Services Inc. agreed to end or suspend its relationship with a total of 14 outlets that failed to comply with state laws on reporting and documenting money transfers.
Western Union will pay a $1.6 million civil penalty, $1 million to a state task force on fraudulent identification and $400,000 to the state Department of Transportation...