Transaction Laundering Facilitates Illegal Credit Card Transactions

On: July 20, 2017

Ecommerce sales are growing, with an average annualized growth rate of around 16%. New technology makes it easy to set up online storefronts and payment environments and the resulting growth in ecommerce transactions is accompanied by the rise in transaction laundering.   Transaction laundering is a sophisticated merchant-based fraud...

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The Pros and Cons of Frictionless Onboarding

On: July 04, 2017

It’s no secret that the current manual onboarding process simply does not operate at Internet speed. Merchant Services Providers (MSPs) like banks and credit card companies, legitimately concerned with legal and financial liability, are highly-cautious. Traditional onboarding and certification is manual, time-consuming, based on extensive documentation and tedious. The...

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Today, There’s No Such Thing as Low-Risk Merchants

On: June 12, 2017

The methods used by fraudulent merchants to abuse legitimate payments ecosystem are constantly evolving. The technological advances in ecommerce, combined with proliferation of payment systems and the easiness of establishing online merchants, create ample opportunities for criminals to use Transaction Laundering as a gateway into the legitimate payments ecosystem....

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Digital KYC: A Key To Tackling Transaction Laundering

On: May 31, 2017

The advent of the internet and the rapid rise of ecommerce have led to the emergence of a completely new class of customers for acquiring banks and Merchant Service Providers (MSPs). We are talking about entities whose identities are almost entirely confined to the digital realm with only a...

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Five Ways Criminals Abuse the Payments Ecosystem

On: March 31, 2017

Every Merchant Service Provider invests massive amount of time and resources in vetting ecommerce merchants. Yet, owing to the incredible complexity of modern payment systems and the ease with which an online business can be established, payment processors frequently fail to know the true origin of transactions passing through...

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