A probe by the U.S. tied to possible money laundering is reviewing whether the Western Union Co. was aware of gaming transactions involving other nations, and if the firm had sufficient safeguards against such conduct, according to the company.
According to the annual report to regulators on Friday, being investigated by the government are “concerns the company was aware there were gaming transactions.” The probe of the Englewood, Colorado-based money-transfer firm is also is focused on whether the company “failed to take proper steps to stop the activity,” according to a Bloomberg Business report. The filing provides more detail on the extent of the probes previously disclosed by the company. On Friday, Western Union repeated that should the government bring charges, as a target of an investigation, it could face significant fines.
The document adds references to transactions involving the Philippines, Haiti, Peru, the Bahamas and the Dominican Republic. Mentioned in the prior document, references to Costa Rica, Nicaragua and Panama were also included.
Also cited in Friday’s document a new “recently served” subpoena seeking information regarding transactions transmitted and received by 43 Nicaraguan agents during an approximate period of five years through the end of October, 2103. Western Union said also covered in the demand were some transactions sent form the U.S. in 2013 and 2014.
In Friday’s filing Western Union said that information and documents are being provided to the investigators by the financial services and communications company.