MoneyGram will disburse more than $115 million to compensate 38,889 victims of fraud schemes that were processed though the company, the U.S. Postal Service Inspection Service said Friday.

"The victims, many of whom are elderly, will recover the full amount of their losses," the Justice Department said in a press release Friday.

"MoneyGram originally entered into a deferred prosecution agreement with the Department of Justice in 2012 for willfully failing to maintain an effective anti-money laundering program and aiding and abetting fraud schemes that generally targeted the elderly and other vulnerable group," the press release stated.

The money being distributed to victims was forfeited by MoneyGram as part of the agreement with the Justice Department.

"In November 2018, MonoGram agreed to extend its DPA, implemented additional enhanced compliance obligations, and forfeited $125 million -- representing the volume of consumer fraud transactions it processed during the DPA term," the press release stated.

"This $115.8 million disbursement to over 38,000 victims demonstrates the commitment to compensate and serve justice to the victims of these frauds," said Attorney for the Middle District of Pennsylvania Gerard Karam.

The case was investigated by the U.S. Postal Service Inspection Service's Philadelphia division's office in Harrisburg, Pennsylvania.

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