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Violation Tracker Individual Record

Company: MoneyGram International, Inc.
Current Parent Company: Madison Dearborn Partners
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Penalty: $18,000,000
Year: 2009
Date: October 20, 2009
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: MoneyGram International, Inc. agreed to pay $18 million in consumer redress to settle FTC charges that the company allowed its money transfer system to be used by fraudulent telemarketers to bilk U.S. consumers out of tens of millions of dollars. MoneyGram was also required to implement a comprehensive anti-fraud and agent-monitoring program.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Illinois
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: private equity (including portfolio companies)
Specific Industry of Current Parent: private equity (including portfolio companies)
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.