Comment Walmart too lax on security to be allowed? (Score 4, Interesting) 51
From the article.
"The FTC sued Walmart in 2022, alleging it “turned a blind eye” as criminals took advantage of its money transfer service. Walmart, the FTC claimed, pocketed millions in fees while “letting fraudsters fleece its customers.” Summarizing the FTC’s evidence, a federal judge in the case wrote that “Walmart knew that its services were used by fraudsters” and that the company was repeatedly warned about certain stores where “twenty-five, fifty, or even seventy-five percent of money transfer activity was fraudulent.” Separately, a federal grand jury in Pennsylvania is hearing evidence of possible criminal conduct in Walmart’s money transfer business, according to corporate filings that did not detail the allegations."
"Not only is Walmart continuing practices that ease the way for fraudsters, its previous failings go deeper than the government has alleged, ProPublica found. Its long record of spotty training and compliance, and its refusal to take responsibility for the fraud perpetrated using its systems, cast doubt on its ability to run a sprawling financial business, experts and current and former Walmart employees said."
