China’s Ant seeks to allay MoneyGram security fears

April 6, 2017 By Cate Cadell BEIJING (Reuters) – China’s Ant Financial tried to soothe security concerns about its proposed $880 million takeover MoneyGram International Inc on Thursday, saying it intends to store U.S. user data locally once the deal closes. The finance affiliate of Internet giant Alibaba Group Holding Ltd will meet MoneyGram’s existing security infrastructure standards and invest in U.S. jobs, Ant’s head of international strategy Douglas Feagin said. “Any data collected on MoneyGram users in the U.S. will continue to reside on the same ironclad U.S.-based servers…

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