Western Union fined US$60m: executives wilfully blind to agent fraud and suspicious transactions to China

By Keith Nuthall

International payment service provider Western Union has agreed to pay a US$60 million fine and tighten its anti-money laundering (AML) systems in New York. This will settle proceedings brought by state regulators who say WU executives and managers “wilfully ignored” suspicious transactions to locations in China that may have aided human traffickers.