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FTC files amended money transfer fraud complaint against Walmart

The Federal Trade Commission has filed an amended complaint that it says bolsters its case that Walmart allowed its money transfer services to be used by scammers, who fleeced consumers out of hundreds of millions of dollars.

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FTC files amended money transfer fraud complaint against Walmart

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Last June, the FTC sued Walmart, alleging that the retail giant "turned a blind eye" while fraudsters used its money transfer service to fleece consumers.

In its suit, the FTC said that for years Walmart's stated policy was for its employees to issue payouts even in the case of a suspicious money transfer.

Earlier this year, a judge partially granted Walmart's motion to dismiss the case, kicking out one of two counts brought by the regulator.

Now, the FTC has filed an amended complaint, adding what it says are further details on Walmart’s alleged violations of the Telemarketing Sales Rule, including the ban on the use of cash-to-cash money transfers in any telemarketing transaction.

"Walmart knew about the role money transfer services play in frauds and telemarketing schemes," says the FTC.

A Walmart spokesperson tells Payments Dive that the watchdog is "trying to salvage a flawed legal claims that they've already lost once," adding "we look forward to responding in court".

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