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The Boston Globe

Business

MoneyGram sets up fund to settle fraud claims

DALLAS — MoneyGram said Friday that it has agreed to set up a $100 million compensation fund as part of a settlement of government allegations of fraud through money transfer scams from 2003 to 2009.

Under the terms of the deal with the US attorney’s office for the Middle District of Pennsylvania and the Department of Justice, Dallas-based MoneyGram International Inc. said it has also taken other steps to prevent more scams.

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