Western Union Shares Fall After Report of CIA Data Gathering
Agency reportedly tracking international money transfers
Western Union slumped 5 percent in trading Friday following a report by the Wall Street Journal that the CIA is building a database of international money transfer data.
The report, citing unnamed officials familiar with the program, says the program collects information from U.S. money-transfer companies including Western Union. It is carried out under the same provision of the Patriot Act that enables the National Security Agency to collect nearly all American phone records.
The mass collection of financial data includes millions of Americans' financial and personal data.