The Federal Trade Commission recently took action against Walmart, claiming the retail giant allowed its money transfer service to be used by fraudsters who cheated customers out of hundreds of millions of dollars.

 

According to the FTC, Walmart knew that telemarketing scams, such as "grandparent" scams, lottery scams, and government agent impersonator scams, induce people to use Walmart's money transfer services to send money transfers. Nevertheless, the company failed to effectively detect and prevent these transfers, and looked the other way as customers lost their money.

​

Companies providing financial services must take reasonable steps to prevent fraud. If you lost money using Walmart's money transfer services, or have information about this case, please contact an EKO attorney.

​