Company Directory - MoneyGram International, Inc.
Company Details - MoneyGram International, Inc.
MoneyGram International, Inc.
WebsiteDallas, United States
ISIN: US60935Y1091
35000 Locations
MoneyGram is a global provider of money transfer and payment services, allowing consumers to send money, pay bills, and make purchases both online and through physical locations. With a focus on accessibility and reliability, MoneyGram partners with various businesses, including Walmart, to provide convenient options for customers to transfer funds.
CCI Score
CCI Score: MoneyGram International, Inc.
-30.52
Latest Event
MoneyGram Cyberattack Exposes Sensitive Customer Data
Between September 20 and 22, 2024, MoneyGram experienced a cyberattack that resulted in the theft of sensitive customer data, including names, bank account details, Social Security numbers, and government-issued ID copies. The breach led to a prolonged service outage as the company worked to remediate the issue and restore operations.
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TOADIE
MoneyGram International, Inc. is currently rated as a Toadie.
Latest Events
- SEP202024
Between September 20 and 22, 2024, MoneyGram experienced a cyberattack that resulted in the theft of sensitive customer data, including names, bank account details, Social Security numbers, and government-issued ID copies. The breach led to a prolonged service outage as the company worked to remediate the issue and restore operations.
-30
Business Practices and Ethical Responsibility
June 20
The breach exposed highly sensitive customer information, raising serious concerns about MoneyGram's cybersecurity and overall business practices. This failure to adequately protect client data not only undermines customer trust but also has broader implications for vulnerable communities that rely on secure financial services.
- FEB102023
MoneyGram was penalized by the FTC and DOJ for failing to enforce mandated fraud prevention measures, a violation of previous settlements. The company’s inaction allowed continued scams via its payment network, resulting in over $115 million in refunds distributed to nearly 40,000 affected consumers.
-70
Business Practices and Ethical Responsibility
June 20
MoneyGram’s failure to enforce its fraud prevention program, despite prior settlements with the FTC and DOJ, undermines consumer protection. This inaction has contributed to a widespread scam problem, resulting in significant financial restitution to defrauded consumers. Such lapses in ethical business practices are viewed negatively under CCI's criteria.
More than $115 Million in Refunds Sent to Consumers as a Result of FTC, DOJ Charges
- JAN012023
The PAC profile for MoneyGram International details its 2023-2024 contributions, with roughly 47.62% going to Democrats and 52.38% to Republicans, and notes that the company has engaged former White House and Congressional staffers to lobby on its behalf. This activity indicates a reliance on traditional political insiders, potentially reinforcing established authoritarian funding channels in U.S. politics.
-10
Political Contributions and Lobbying Efforts
June 20
The PAC data shows MoneyGram’s contributions are nearly balanced but with a slight tilt toward Republican candidates. Given the current political climate, even a modest tilt can support funding channels that may bolster authoritarian tendencies. This behavior is concerning from an anti-fascist perspective.
-10
Executive Political Engagement
June 20
The profile also highlights MoneyGram's engagement of former White House and Congressional staffers to lobby on its behalf. This reliance on well-connected former political insiders underscores a strategy of influencing policy that can contribute to unaccountable corporate power in the political arena.
- NOV012022
The article from OpenSecrets details individual donor contributions to MoneyGram International's PAC during the 2021-2022 cycle. The information suggests that the company's PAC is actively engaged in political fundraising, which raises concerns about the potential for undue corporate influence on policy-making.
-40
Political Contributions and Lobbying Efforts
June 20
The reported PAC donor contributions indicate that MoneyGram’s political fundraising efforts may be used to influence policy decisions. From an anti-fascist perspective, such corporate political contributions can contribute to an environment where financial power shapes governance and may support authoritarian practices.
- NOV082018
MoneyGram International, Inc. agreed to extend its deferred prosecution agreement and forfeit $125 million following breaches in its anti-fraud and anti-money laundering programs that allowed significant consumer fraud schemes, particularly affecting vulnerable populations such as the elderly. The enforcement highlighted systemic failures in compliance and internal controls.
-60
Business Practices and Ethical Responsibility
June 20
MoneyGram's failure to maintain an effective AML and anti-fraud program, which led to substantial consumer fraud affecting vulnerable groups, demonstrates a serious lapse in ethical business practices. The company's breach of its 2012 DPA and subsequent extension of the agreement, along with the forfeiture of $125 million, underscores its inability to safeguard consumers and adhere to compliance standards. This action reflects poorly on its corporate responsibility and regulatory commitment.
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Corporation
-55.96
Corporate Financials
- Revenue
- 2025
- $1.50B
- Total Assets
- 2025
- $950.00M
- Operating Income
- 2025
- $250.00M
- Total Equity
- 2025
- $200.00M
Employees: 2,900
Industries
- 522320
- Financial Transactions Processing, Reserve, and Clearinghouse Activities
- 522390
- Other Activities Related to Credit Intermediation
- 541511
- Custom Computer Programming Services