US financial services company Western Union has agreed to pay a federal penalty of $586 million (€545.2 million) after admitting to clearing transactions related to illegal online gambling activities. According to the Financial Times newspaper, Western Union allowed agents to send money to illicit internet gaming operations in Costa Rica, thus violating US laws regarding anti-money laundering. Western Union pleaded guilty to the named violations, which included “aiding and abetting wire fraud”, as well as failure to maintain an effective campaign in regards to anti-money laundering activities. The company has also agreed to have its financial transactions monitored by an…