FTC sues Wal-Mart for allowing money transfer services for fraud

Wal-Mart, which provides some financial services, acts as an agent for money transfer services such as MoneyGram and Western Union.

For years, the FTC said Wal-Mart’s policy was to issue payments even if fraud was suspected, and retailers couldn’t take any other action to prevent consumers from being fraudulent. Stated.

As a result, consumers have fled “from hundreds of millions of dollars,” officials said.

Wal-Mart said in a statement that it would fight what is called a “virtually flawed and legally unfounded” proceeding.