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

Posted: November 29, 2018 at 2:06 pm

Lasco Financial Services Limited (LASF) has issued the following statement in response to the article in The Gleaner ‘MoneyGram Woes’:

“We write to provide clarification on the recent report in the Gleaner entitled MoneyGram woes and to assure you and our shareholders that this development is not a threat to MoneyGram’s ongoing business nor to LASCO Financial Services’ commercial activity.

“MoneyGram’s current forfeiture is an amendment to the 2012 Deferred Prosecution Agreement with the Department of Justice.

“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. MoneyGram’s global efforts to combat fraud is evident in the declining reports of fraudulent transactions to all its markets, including Jamaica.

“LASCO Financial Services Limited is MoneyGram’s largest Jamaica Agent and co-operates with MoneyGram to protect the organizations from fraudulent transactions.”

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