Multinational retail giant Walmart Inc. (NYSE: WMT) recently revealed that it has been sued by the Federal Trade Commission (FTC) for allegdely facilitating fraudulent activities through its money-transfer services. Shares of the company declined 1.4% to close at $122.37 on Tuesday. The FTC filed its complaint in the U.S. District Court for the Northern District of Illinois. It accused Walmart of using its money-transfer service to facilitate scams, which included fake IRS officers requesting money from the public. The FTC further alleged that between 2013 and 2018, over $197 million sent or received by Walmart were the subject of fraud complaints.
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