FTC sues Walmart for facilitating money transfer scams worth $197 million

The US Federal Trade Commission (FTC) has sued retail commerce giant Walmart for allegedly allowing its money transfer services to be used by fraudsters, who fleeced consumers out of more than $197 million.
In its lawsuit, the FTC alleged that for years, the company turned a blind eye while scammers took advantage of its failure to properly secure the money transfer services offered at Walmart stores.
“The company did not properly train its employees, failed to warn customers, and used procedures that allowed fraudsters to cash out at its stores”, according to the FTC’s complaint.
“While scammers used its money transfer services to make off with cash, Walmart looked the other way and pocketed millions in fees,” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection.