FTC Distributing $10M in Walmart Fraud Settlement

The Federal Trade Commission (FTC) has announced it is distributing nearly $10 million to thousands of consumers following a settlement with Walmart. The payments stem from allegations that the retail giant failed to protect customers from scammers utilizing the company's wire transfer services.

The settlement follows a comprehensive FTC investigation which concluded that Walmart lacked effective anti-fraud policies. Specifically, the agency found that the company failed to properly train its employees and did not sufficiently warn customers about the risks of wire transfer fraud. These lapses reportedly allowed scammers to exploit Walmart's services, as well as partner platforms including MoneyGram, Western Union, and Ria, between 2013 and 2018.

As part of the final order, Walmart must now adhere to strict new requirements to prevent future fraud. The company is prohibited from offering wire transfer services without implementing robust fraud detection measures. Additionally, Walmart may not process transfers known to be fraudulent or support telemarketers who request upfront payments for loans or utilize cash-to-cash transfers.

Who is eligible for a payment?

The FTC will send checks to approximately 65,022 impacted consumers. To be eligible, a customer must have completed a qualifying money transfer between January 2015 and December 2024. Those who receive a check are encouraged to cash it within 90 days.

The FTC urges consumers to remain vigilant against secondary scams, noting that the agency will never request payment or private account information to issue a refund.

For further details, consumers can visit the FTC's official page or contact the refund administrator directly at 1-833-472-1990.