Consumer Fraud Archive

What to do if you’ve Lost Money in a Moneygram Scam

February 10th, 2010. By AbiK

Many of you have written in about Moneygram scams. Unfortunately, in the aftermath of Moneygram’s court order to cough up $18 million to the FTC to settle charges of consumer fraud, we’re still receiving numerous accounts from readers who’ve been on the receiving end of a Moneygram scam and who are asking what they should do.

For background, the FTC had sued Moneygram, charging that agents from the money transfer service helped fraudulent telemarketers and con artists who tricked consumers into wiring in excess of $84M within US and Canada. The fraudulent activity occured between 2004 and 2008. The $84M in losses was based on consumer complaints that Moneygram received—and the FTC estimates that the figure is actually larger (i.e., not all victims would have filed a complaint with Moneygram).

First, the court order, from last October, is requiring Moneygram to not only pay the $18 million to the FTC—which Read the rest of this entry »

Tags: FTC, moneygram, Moneygram Scam
Posted in Consumer Fraud | 187 Comments »