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Prevent Money Laundering and Consumer Fraud

Walmart offers financial products and services around the world, including money transfers, money orders, check cashing, bill pay, gift cards, credit cards, and insurance. Most customers perform transactions with good intent, but some criminals attempt to use our services for money laundering or to victimize customers. Preventing money laundering and consumer fraud protects our customers and company and may stop serious crimes.

 

Integrity in Action

 

  • Know your customer. Financial products and services sometimes require us to collect additional customer information. Review and accurately capture the customer’s information when applicable.
  • Report suspicious behavior. If a transaction or customer seems suspicious or if the customer appears to be a potential fraud victim, follow local procedures for handling the transaction and reporting the suspicious activity.
  • Follow Walmart anti-money laundering and consumer fraud policies and procedures. These are designed to protect customers and ensure that we comply with reporting and other legal obligations where we operate.
What is money laundering?

Money laundering disguises the proceeds of crime by putting them into the legitimate financial system. It is connected to various criminal activities, including terrorism, drug dealing, and fraud.

 

Money Laundering Red Flags

 

If you observe red flags, follow local procedures for handling the transaction and, where applicable, reporting the suspicious activity.

 

  • Someone who provides incomplete, false, or suspicious information, refuses to answer questions, or withholds identification
  • Making purchases in a way that avoids requirements, such as making multiple small transactions below the amount that would have to be reported to the government
  • Payments using multiple money orders or large amounts of cash
  • Large purchases of prepaid products, such as gift cards
  • Buying gift cards for an unknown person, including for a government entity like the tax department or law enforcement
What if?

It is a particularly busy day, and I have a line of customers waiting. The customer at the front of the line wants to send a money transfer to an individual she does not know, and I think it might be a fraud scam. What should I do?

If you suspect money laundering or a fraud scam, follow the appropriate procedures to report suspicious and fraudulent activity in your country. If legally allowed in your country, do not complete the transaction and report it. Though this may take additional time and inconvenience the customers who are waiting, you may be preventing fraud or other criminal activity.


 Related Policies
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