Overview

• The settlement, filed Friday in Chicago federal court, requires Judge Shah’s sign-off before Walmart pays $10 million to compensate defrauded consumers.
• The agreement ends Walmart’s appeal of Shah’s July 2023 ruling that allowed key FTC allegations from the 2022 complaint to proceed.
• Under the deal, Walmart must block transfers it suspects are fraudulent and refuse transactions linked to high-risk sellers or telemarketers.
• The FTC highlighted schemes where scammers impersonated IRS agents, relatives in distress and fake lottery officials to exploit Walmart’s transfer network.
• If approved, the $10 million fund will be overseen by the court and directed toward consumer redress or other remedies.