MoneyGram International Inc. reported a net loss Thursday of $3.3 million for the second quarter, compared with net income of $15.2 million a year earlier.
The Minneapolis money transfer company said that revenue grew 2%, to $291.2 million.
It said it set aside $12 million related to an inquiry by the Federal Trade Commission into whether third parties have used MoneyGram's money transfer services to commit consumer fraud.
MoneyGram said it is implementing systems and processes to guard against fraud.
The company also said it increased its provision for losses by $9 million as a result of the closure of an international agent.
