Western Union pays $402K for OFAC violations

OFAC has announced a $401,697 settlement with Western Union Financial Services, Inc., of Denver, Colorado. Western Union has agreed to settle its potential civil liability for 4,977 apparent violations of the Global Terrorism Sanctions Regulations. Between December 9, 2010, and March 13, 2015, Western Union processed 4,977 transactions totaling approximately $1.275 million, which were paid out to third-party, non-designated beneficiaries who chose to collect their remittances at a Western Union Sub-Agent in The Gambia that was previously designated. OFAC determined that Western Union voluntarily self-disclosed the apparent violations and that they constitute a non-egregious case.