FTC Sues Walmart for Alleged Money Transfer Fraud
28 Junho 2022 - 06:24PM
Dow Jones News
By Kathryn Hardison
The Federal Trade Commission has sued Walmart Inc. for allegedly
allowing fraudsters to use its money transferring services to take
hundreds of millions of dollars from customers.
In a lawsuit filed in the U.S. District Court for the Northern
District of Illinois, the FTC alleges that Walmart has turned a
blind eye to the activity for years. An FTC investigation found the
company didn't properly train employees and failed to warn
customers of the scams.
The FTC is asking the court to order Walmart to return money to
consumers and impose civil penalties.
Walmart said in a statement Tuesday the FTC's lawsuit is
"factually flawed and legally baseless."
From 2013 to 2018, more than $197 million in payments tied to
fraud complaints were sent or received at Walmart, based on
information from fraud databases maintained by MoneyGram, Western
Union, and Ria, according to the complaint. More than $1.3 billion
in related payments may also be connected to the fraud.
Samuel Levine, director of the FTC's bureau of consumer
protection, said in prepared remarks that Walmart "pocketed
millions in fees" from the fradulent transactions.
Walmart shares is up 0.2% to $122.65 in after-hours trading.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
June 28, 2022 17:09 ET (21:09 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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