MoneyPak prepaid cards lure fraudsters, money launderers

Federal authorities are investigating a wide range of fraudulent schemes involving a popular prepaid money card product called MoneyPak that lures consumers into sending money through the card.

Thousands of consumers have sent money through MoneyPak, and online fraudsters have used the card to launder small sums of cash, because money transfers using the cards are hard to track, the New York Times reported last Thursday.… Continue Reading