July 28, 2016
Attorney General Mark Brnovich on Thursday announced a major development in the Anti-Money Laundering (“AML”) agreement between Western Union Financial Services, Inc. and the Arizona Attorney General’s Office. An independent court monitor found that Western Union successfully implemented all of the primary recommendations required in the settlement agreement amendment dated January 31, 2014.
“Western Union’s Anti-Money Laundering Program is a crucial tool in helping the State of Arizona combat drug and human trafficking along the border,” said Brnovich. “We’ve forged a close partnership, with one goal in mind: to protect Arizonans from criminal activity.” On Thursday, the court accepted BDO’s Final Report which concluded Western Union has successfully implemented an AML compliance program in the Southwest Border Area that is consistent with the requirements of the Bank Secrecy Act, relevant implementing regulations, industry best practices, and applicable guidance from government regulators as applied to money services businesses, and is reasonably designed to prevent, detect, and report money-laundering activity.