One of the largest money transfer enterprises in the world, Western Union, has confessed to not taking action with knowledge that criminals had been using their services in order to commit crimes.
Such crimes include money laundering as well as fraud, according to the authorities of the United States who reported on this matter last Thursday.
As a consequence for such an action, or lack of action perhaps, Western Union will be paying a fine of up to $586 million.
The company currently has over 500,000 branches in over 200 countries at the moment, and confessed to assisting wire fraud by permitting scammers to proceed with their money transactions.
This came even after WUN had been aware that their own employees were aiding these scammers in order not to be detected.
Paying the Price
These matters were brought to light by the Justice Department of the United State along with the Federal Trade Commission.
According to the U.S. authorities, WUN had apparently assisted Chinese immigrants to perform several transactions in amounts tallying up to hundreds of millions of U.S. dollars in order to send money to human smugglers.
The wiring of the money had been done in smaller less noticeable segments so that federal reporting was to be completely evaded.
Not So Innocent
Among other crimes that had been exposed were agents of WUN being offered a portion of the income from scammers who fooled thousands of Americans by offering prizes and job offers that were all a hoax.
WUN agents had aided these scammers by aiding the completion of their transactions, according to the U.S. authorities.
Reports state that throughout the years of 2004 until 2012, WUN had been aware of such fraud transactions that were taking place but did not proceed with the necessary actions to tackle them down.
Failing to do so had also kept over 2,000 agents to remain within the company and further continue in their criminal tasks.