Money

Walmart to Pay $10 Million to Settle FTC Lawsuit Over Fraudulent Money Transfer Claims

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CHICAGO — Walmart has agreed to a $10 million settlement to resolve a civil lawsuit filed by the U.S. Federal Trade Commission, which alleges that the retailer failed to take necessary actions against fraudsters exploiting its money transfer services. The lawsuit claims that this negligence allowed criminals to defraud consumers of hundreds of millions of dollars. The settlement was submitted in federal court in Chicago and is pending approval by U.S. District Judge Manish Shah. As part of the agreement, Walmart committed to enhancing its protocols around money transfers, specifically pledging to not process transfers … Read more

Salvadoran Attorney Detained in Major Money Laundering Operation

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SAN SALVADOR, El Salvador — A prominent attorney has been taken into custody on accusations of money laundering, intensifying scrutiny on corruption in the Central American nation. The arrest, which occurred earlier this week, has once again raised concerns over the nation’s ongoing battle against financial crimes and impunity. The lawyer, whose identity has not been disclosed by authorities, is alleged to have been involved in a complex scheme involving illicit funds. According to prosecutors, this operation transferred large sums of money through various means, including shell companies and wire transfers, designed to obscure the … Read more

Money20/20 Unveils Star-Studded Jury for Inaugural Money Awards Celebration

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Las Vegas, Nevada — Money20/20 has announced the formation of a distinguished global jury for its inaugural Money Awards, aimed at recognizing outstanding contributions within the financial technology sector. The awards seek to spotlight innovation, excellence, and impact in a rapidly evolving industry. This year’s jury will comprise experts from diverse backgrounds in finance, technology, and entrepreneurship. Their collective insights will play a critical role in evaluating nominees across various categories. The decision to gather such a high-caliber group underlines Money20/20’s commitment to honoring key players who are shaping the future of money. The Money … Read more

Money20/20 Debuts Influential Jury for First-Ever Money Awards, Celebrating Financial Innovation

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Las Vegas, Nevada — A distinguished panel of experts has been assembled for the inaugural Money Awards at the upcoming Money20/20 conference. This launch aims to recognize extraordinary achievements in the global fintech sector, showcasing innovation and excellence within the industry. The Money Awards will honor a diverse range of categories, celebrating leaders and innovators who are changing the landscape of financial services. The carefully selected jury comprises respected figures with extensive backgrounds in finance, technology, and ecommerce, ensuring that the awards reflect the highest standards of excellence. The jury members are noted for their … Read more