Walmart Agrees to $10 Million Settlement Over FTC Lawsuit on Money Transfer Scams

Walmart has agreed to pay $10 million to settle charges brought by the Federal Trade Commission (FTC), which accused the corporation of turning a blind eye to scammers using its money transfer services to steal funds from customers, the agency said in a June 20 statement.

The lawsuit against Walmart was filed by the FTC in June 2022 at the District Court for the Northern District of Illinois Eastern Division. The suit stated Walmart was “well aware” that fraudsters were inducing people to use the company’s money transfer services to “send money to domestic and international fraud rings.”