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Home > Acquisitions > MoneyGram plagued by tech, human error in OFAC sanctions settlement
May5 - 21

MoneyGram plagued by tech, human error in OFAC sanctions settlement

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Thursday announced a $34,329 settlement with MoneyGram Payment Systems for 359 apparent violations of multiple sanctions programs.

The 359 transactions totaled $105,627 in value and were processed on behalf of approximately 40 individuals on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List), as well as two individuals who initiated transactions linked to Syria.

OFAC determined the case to be “non-egregious.” Read the complete article here.

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