wire transfer fraud
MoneyGram International announced today that it would pay $18 million to the FTC to settle charges it allowed wire fraud to happen between 2004 and 2008. MoneyGram's press release notes that
they disagree with the FTC's view of the matter, but $18 million is a hell of a lot of money to pay if you don't think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of
detail illustrating MoneyGram's negligence, as well as the criminal behavior of some of its employees who were in on the frauds.
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scams
The BBB has issued a warning about a distressing telephone scam that's increasing in popularity. The target? Grandparents. Scammers based in Canada are thought to be randomly dialing US phone numbers until they reach someone who sounds like a senior citizen. They then pose as a grandchild who has been in a car accident and needs emergency money.
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Consumerist
subprime meltdown
