{"id":41222,"date":"2023-06-30T13:07:24","date_gmt":"2023-06-30T17:07:24","guid":{"rendered":"https:\/\/d56fg8tfg.fitnews.club\/finance\/ftc-files-amended-complaint-charging-that-walmart-facilitated-scams-through-its-money-transfer-services-that-fleeced-customers-out-of-hundreds-of-millions\/"},"modified":"2023-06-30T13:07:24","modified_gmt":"2023-06-30T17:07:24","slug":"ftc-files-amended-complaint-charging-that-walmart-facilitated-scams-through-its-money-transfer-services-that-fleeced-customers-out-of-hundreds-of-millions","status":"publish","type":"post","link":"https:\/\/d56fg8tfg.fitnews.club\/finance\/ftc-files-amended-complaint-charging-that-walmart-facilitated-scams-through-its-money-transfer-services-that-fleeced-customers-out-of-hundreds-of-millions\/","title":{"rendered":"FTC Files Amended Complaint Charging that Walmart Facilitated Scams Through Its Money Transfer Services That Fleeced Customers Out of Hundreds of Millions"},"content":{"rendered":"
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The Federal Trade Commission filed an\u00a0amended complaint<\/span>\u00a0bolstering the agency\u2019s case that <\/strong>Walmart allowed its money transfer services to be used by scammers<\/a>, who fleeced consumers out of hundreds of millions of dollars. <\/span><\/span><\/span><\/p>\n

The FTC filed the amended complaint<\/a> in the U.S. District Court for the Northern District of Illinois, following the court\u2019s March 27, 2023 ruling on the FTC\u2019s initial complaint. The amended complaint adds further details on Walmart\u2019s alleged violations of the Telemarketing Sales Rule, including the Rule\u2019s ban on the use of cash-to-cash money transfers in any telemarketing transaction.<\/span><\/span><\/p>\n

According to the amended complaint, Walmart for years turned a blind eye while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores.<\/span> Walmart did not properly train its employees, failed to warn customers, and used procedures that allowed scammers to cash out at its stores, according to the FTC\u2019s complaint.<\/span><\/span><\/span><\/p>\n

Money transfers are frequently used by fraudsters across a wide variety of scams because they are nearly impossible to retrieve after the money has been picked up. The amended complaint cites numerous instances in which scammers relied on Walmart money transfers as a primary way to receive payments, including in telemarketing schemes such as sweepstakes scams, advance-fee loan scams, IRS impersonation schemes, relative-in-need \u201cgrandparent\u201d scams, and others. <\/span><\/span><\/span><\/span><\/p>\n

The FTC\u2019s investigation of Walmart\u2019s money transfer practices showed, according to the complaint, that Walmart knew about the role money transfer services play in frauds and telemarketing schemes. Despite that, the company\u2019s money transfer services harmed consumers in numerous ways, including:<\/span><\/span><\/span><\/span><\/p>\n