Western Union Hosts its 11th Anti-Money Laundering, Anti-Fraud and Compliance Conference

Press Release By Western Union Published OnSeptember 18, 2017

DENVER–(BUSINESS WIRE)– The Western Union Company (NYSE: WU), a leader in global payments services, kicks off its 11th Anti-Money Laundering, Anti-Fraud and Compliance Conference today through September 20 at the Denver Tech Center.

This year’s conference – the first hosted in the U.S. to welcome Western Union’s Agents from across the globe – will bring together Agents, Law Enforcement and Western Union employees to share best practices on the latest Anti-Money Laundering (AML)/Counter Financing of Terrorism (CFT) and consumer protection laws and regulations, enforcement trends and compliance strategies used to detect and combat fraud and money laundering.

A host of subject matter experts, both from within Western Union and from several external organizations, including U.S. Department of Homeland Security, Drug Enforcement Administration and Polaris, will cover several industry topics, including Dodd-Frank and Consumer Protection Updates, Preventing and Mitigating Cybercrime Threats, Combating Human Trafficking, Narcotics-related Money Laundering and the Current Focus of Regulators and Law Enforcement.

“Compliance is not just a department, or a set of rules to follow,” said Jacqueline Molnar, Chief Compliance Officer at Western Union. “It is at the heart of what it means to be a responsible company and is integral to the way in which we do business. This is why we continue to invest heavily in compliance, why more than 20% of our workforce is dedicated to compliance and why we’re all gathered here this week to share best practices.”

Western Union continues to invest 3-4 per cent of its revenue annually in compliance, helping to protect and empower consumers around the globe. This dedication extends to those on the front line at the more than 550,000 Agent locations around the globe.

Western Union also actively educates consumers on how to protect themselves from fraud with scam types and descriptions, warning signs, videos, articles and resources located at www.wu.com/fraudawareness.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2017, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 550,000 agent locations in 200 countries and territories and over 150,000 ATMs and kiosks, and included the capability to send money to billions of accounts. In 2016, The Western Union Company completed 268 million consumer-to-consumer transactions worldwide, moving $80 billion of principal between consumers, and 523 million business payments. For more information, visit www.westernunion.com.


Source: The Western Union Company

Western Union Global

Claire Treacy, 1 303-547-2347