Western Union 2014 Annual Report Download - page 155

2014 FORM 10-K
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Regulators worldwide are exercising heightened supervision of money transfer providers and requiring increasing efforts to
ensure compliance. As a result, we are experiencing increasing compliance costs related to customer, agent, and subagent due
diligence, verification, transaction approval, disclosure, and reporting requirements, along with other requirements that have had
and will continue to have a negative impact on our business, financial condition, and results of operations.
Government agencies both inside and outside the United States may impose new or additional rules on money transfers
affecting us or our agents or their subagents, including regulations that:
• prohibit transactions in, to or from certain countries or with certain governments, individuals and entities;
• impose additional customer identification and customer, agent, and subagent due diligence requirements;
• impose additional reporting or recordkeeping requirements, or require enhanced transaction monitoring;
• limit the types of entities capable of providing money transfer services, impose additional licensing or registration requirements
on us, our agents, or their subagents, or impose additional requirements on us with regard to selection or oversight of our
agents or their subagents;
• impose minimum capital or other financial requirements on us or our agents and their subagents;
• limit or restrict the revenue which may be generated from money transfers, including transaction fees and revenue derived
from foreign exchange;
• require enhanced disclosures to our money transfer customers;
• require the principal amount of money transfers originated in a country to be invested in that country or held in trust until
they are paid;
• limit the number or principal amount of money transfers which may be sent to or from the jurisdiction, whether by an individual,
through one agent or in aggregate;
• impose taxes or fees on money transfer transactions; and
• restrict or limit our ability to process transactions using centralized databases, for example, by requiring that transactions be
processed using a database maintained in a particular country.