Western Union fined $586m over illegal online gaming transactions
2017-01-23 16:59:35According to the Financial Times newspaper, Western Union allowed agents to send money to illicit internet gaming operations in Costa Rica, thus violating US laws regarding anti-money laundering.
Western Union pleaded guilty to the named violations, which included “aiding and abetting wire fraud”, as well as failure to maintain an effective campaign in regards to anti-money laundering activities.
The company has also agreed to have its financial transactions monitored by an independent compliance auditor over the next three years to help ease any lasting concerns over its business practices.
In recent years, the firm has admitted to processing thousands of transactions for a host of global fraud schemes, with online gambling the latest addition to this list.
Bill Chandler, chief communications officer at Western Union, told the Financial Times that the company has “worked hard to put these investigations behind us”.
As a result of the fine, Western Union anticipates losses of $570 million for the 12 months to December 31, 2016.
Top Casinos
Best Welcome Bonus
-
Vegas ParadiseGrab an excellent 50% Welcome Bonus up to £100 plus 25 Free Spins at Vegas Paradise!#Ad New Players Only. UK players only. Wager from real balance first. 50X wager the bonus. Contribution varies per game. selected games only. Wager calculated on bonus bets only. Bonus valid 30 days / Free spins valid 7 days from receipt. Max conversion: 3x the bonus amount or from free spins: £20. Min Deposit £10. Withdrawal requests voids all active/pending bonuses. Excluded Skrill deposits. Full Terms Apply. BeGambleAware.org.Read ReviewClaim Bonus
-
UnibetDeposit with £10 and get £40 with Unibet!#Ad 18+. BeGambleAware.org. New Customers Only. Minimum deposit £10. 50x wagering requirement apply. Bonus will expire 30 days after opt-in. Further T&C's apply.Read ReviewClaim Bonus
-
CasinoLuckCasinoLuck welcomes you with a superb 100% Welcome Bonus up to £50 and 50 Spins on the Starburst slot!!#Ad Terms & conditions apply. New players only. 18+. Min Deposit £20. Wagering requirement apply 35x. Offer valid for 72h. BeGambleAware.org.Read ReviewClaim Bonus
-
Spin HillSpin the Mega Reel for the chance to win up to 500 Free Spins with Spin Hill!#Ad New Players Only, Min Deposit £10.00, £8.00 Max Win Per 10 Spins, Max Bonus Equal To Lifetime Deposits (Up To £250.00), 65X Wagering Requirements And Full T&CS Apply Here. Cashback Must Be Claimed On-Site, Calculated As A % Of Daily Deposits, Minus Withdrawals. Further T&Cs Apply. 18+. BeGambleAware.org.Read ReviewClaim Bonus
-
GentingBetGet a 100% deposit match up to £200 at GentingBet!!#Ad New Customers. 35x real money cash wagering of initial deposit amount (£20-£200) on qualifying slot games completed within 30 days unlocks equivalent cash bonus (% game weightings apply). Payment restrictions apply. 15 days to accept/opt in .Full T&C's here. 18+. BeGambleAware.org.Read ReviewClaim Bonus