Lasco Financial Services Limited (LASF) Responds to Article in the Gleaner ‘MoneyGram Woes’

International remittance company MoneyGram has been fined in its home market for failing to crack down sufficiently on fraudulent money transfers within its global network, but Jamaican agent Lasco Financial Services Limited says there is no negative impact for the local operations. Through a press release on the JSE, Lasco Financial Services assured shareholders that the development is not a threat to MoneyGram’s ongoing business nor to Lasco Financial Services commercial activities. It further stated that since the original prosecution in 2012, MoneyGram has taken significant steps to improve their compliance programme and have remediated many of the issues which were originally detected.

(Source: JSE)