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MoneyGram

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile4 entries

  1. 2022

    CFPB and New York consumer-protection complaint

    Regulators alleged that MoneyGram repeatedly stranded recipients, supplied inaccurate transfer-completion information, and failed to handle complaints as required under applicable consumer-protection rules.

    Source

  2. 2021

    Investors sue MoneyGram over alleged XRP-related statements

    Lawsuit filed

    Investors who purchased MoneyGram securities during the stated class period sued MoneyGram. The lawsuit alleges that MoneyGram made misleading statements or failed to disclose information about Ripple and XRP; these are allegations, not a finding of wrongdoing.

    Source excerpt

    • MoneyGram International Inc (NASDAQ: MGI) has been sued by investors who purchased MoneyGram securities between June 17, 2019 and February 22, 2021. The lawsuit, filed on Monday, 1 March, alleges that MoneyGram made false statements regarding Ripple Labs and XRP.
    Source

  3. 2016

    Multistate consumer-fraud settlement

    MoneyGram agreed to pay $13 million to resolve a probe concerning complaints that scam artists had induced consumers to send money through the service.

    Source

  4. 2012

    Anti-money-laundering and wire-fraud violations

    MoneyGram admitted that it had failed to maintain an effective anti-money-laundering program and had facilitated transfers used in mass-marketing and phishing fraud. The settlement included a victim-compensation fund, enhanced controls, agent terminations, and corporate monitoring.

    Source