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Your drivers are bugged out or the install/update got botched.
Download AMD Catalyst Un-install Utility[sites.amd.com] to remove all AMD components, and then reinstall the latest non-beta drivers from AMD's Driver & Software[support.amd.com] page.
If that fails, try to also download Driver Sweeper[www.guru3d.com].
Run Driver Sweeper after you use the AMD Catalyst Un-install Utility, and hit the checkmark that says AMD/ATI - Display. Then hit Clean, reboot and install the fresh drivers.
This should solve the memory error and allow you to play!
EDIT: This is caused by Catalyst Control Center crashing/hanging which then causes MOM.exe to crash/hang leading to the OP error.