Western Union is an accredited financial institution that specializes in fund transfer and operates with the motto, “when money moves freely, good things happen.” The company aided and abetted wire fraud which was in complete violation of federal law. Under the wire fraud scheme, fraudsters posed as lotteries and sweepstakes where the fraudsters would tell the victim they have won huge prize money and have to pay fees like taxes to claim the same, family members in need of immediate money, fraudsters posing as online love interests and requesting funds for a visit, for enticing victims into wiring large sums of money. An investigation conducted by the U.S. Postal Inspection Service revealed that the victims received money remission instructions from Western Union but did not receive any prize, the promised cash, or promoted item.
The company entered into a deferred prosecution agreement with the federal agreement in January 2017 and resolved an investigation from the FTC. Western Union agreed to reimburse $586 million to the wire fraud scheme victims after admitting to criminal wrongdoing. In its agreement with the DOJ, Western Union admitted that it violated anti-fraud statutes and the Bank Secrecy Act by processing transactions for Western Union agents and other participants in a consumer fraud scheme on the international level. Claims were lodged by the DOJ against Western Union for aiding and abetting, wire fraud, and failure to maintain a proper anti-money laundering program.
These funds were remitted to fraud victims through a remission process. $366 million was distributed among more than 148000 people in the first phase of remission. However, funds are still available in the settlement pool and affected individuals can claim benefits from the second round of remission payments.
The amount of remission payment will depend on the losses suffered by claimants and the amount already refunded to them. These payments will reimburse class members for the fraud losses suffered and will not cover collateral expenses like incidental losses, Western Union fees, or transfers through other companies.
Consumers who do not wish to participate in this class action settlement should not file a remission petition. There is no deadline for exclusion in this remission case. Class Members who filed a claim under the first round of remission payments should refrain from filing another petition of remission.
Eligibility for Making Claim: The Western Union Remission Phase 2 Settlement is expected to benefit individuals who fell prey to Western Union’s wire fraud scheme between 1st January 2004 and 19th January 2017.
Proof Of Purchase: Remission requires different types of documentation including documentation of wire transfers, SSN/TINs, and other files in support of your claim.
Potential Claim Amount: Variable
Settlement website: WesternUnionRemissionPhase2.com
Claim Form: Western Union Remission Phase 2
Deadline For Submitting Claim: 07/01/2022
Final Hearing Date: NA