Western Union Completes Southwest Border Monitor Primary Recommendations

Western Union Company WU revealed that it completed the primary recommendations of the monitor pursuant to the Southwest Border settlement agreement, of February 11, 2010.

The global payment services firm said that the monitor appointed by the Maricopa County Superior Court, in the State of Arizona, came to a conclusion that the company has successfully implemented an effective anti-money-laundering program. The company has also executed all the primary recommendations made by the monitor.

The company quoted Arizona Attorney General Mark Brnovich as having commented, "Over the last few years Western Union has made great strides in developing an effective AML program. We believe Western Union's Southwest AML Compliance Program should be a model for others in the industry."

Western Union applauded the court-appointed monitor, BDO, LLP, for its work and outstanding efforts in monitoring the successful completion of the primary recommendations.

The stock edged down by $0.13 or 0.64 percent at $20.26.