Successful Monitorship Improves Multi-National Financial Company’s Anti-Money Laundering Efforts

Background & Challenges

BDO was selected as the independent, court-appointed monitor to evaluate whether Western Union complied with the terms of a settlement agreement with the Attorney General for the State of Arizona.

Approach

BDO was responsible for evaluating whether Western Union successfully implemented more than 100 recommendations that were designed to enhance the company’s anti-money laundering (AML) efforts. BDO was also responsible for evaluating whether Western Union’s AML Compliance Program was reasonably designed to prevent, detect, and report money laundering activity.

Client Impact

BDO monitored the company’s compliance with the settlement agreement and provided recommendations for improved AML efforts.