Moneygram International, Inc. confirmed in a regulatory filing its November 2018 announcement of an Amendment and Extension of the Deferred Prosecution Agreement that it had entered into in November 2012 based on transactions involving some of the company’s US and Canadian agents. The company also entered into a consent order with the Federal Trade Commission, focused on the company’s anti-fraud and anti-money laundering programs. Pursuant to the DPA and Consent Order, Moneygram will pay a total of $125 million, and continue to retain an independent monitor until May 2021.
In addition, Moneygram announced a separate internal investigation, initiated in 2015, to identify whether certain payments processed by the company constituted violations of US sanctions. According to the company, the Office of Foreign Assets Control of the US Department of the Treasury is currently reviewing the voluntary self-disclosure filed with OFAC in March 2017.
Moneygram also noted in its 10-K that in June 2018 it received a request for production of documents from the New York Department of Financial Services, related to the DPA and FTC order described above, and focused on certain of the company’s New York-based agents. The company reports that it continues to receive and respond to document requests in connection with the NYDFS investigation.