Western Union to pay $586M fine due to processing illegal online gambling transactions

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As part of a deal with the United States, US financial services firm Western Union Co. has agreed to pay a federal fine of $586 million (or €545.2 million) after admitting that it allowed the processing of online gaming transactions which turned out to be illegal. Simply put, it aided and allowed wire fraud and failed to maintain an effective anti-money laundering program. Failure to exercise the company's anti-money laundering protocols led to the processing of illegal transactions worth[...]