23Jan

Transaction Laundering is the New, Advanced form of Money Laundering

On: January 23, 2017

Transaction laundering is the new sophisticated form of money laundering and terrorism financing  and is one of the biggest challenges facing the AML regime today. This advanced merchant-based fraud scheme takes advantage of legitimate payment ecosystems by funneling unknown transactions through seemingly unrelated ecommerce merchant accounts. Sleek legitimate websites...

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21Dec

Transaction laundering on mobile – new channel, new fraud

On: December 21, 2016

Mobile transactions are projected to reach $7,45 trillion by 2020. With the rapid growth in mobile payments comes the migration of transaction laundering to mobile as well. Transaction laundering on mobile Transaction Laundering  is an action whereby a merchant processes a transaction on behalf of another merchant.  This technique...

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15Dec

Fraud Prevention Tool Box: Content Monitoring on Steroids

On: December 15, 2016

Fraud has always kept pace with technological developments within the payments industry. The advent of the internet and the rapid rise of ecommerce have opened up a whole new host of possibilities for merchant based fraud. Methods for perpetrating online fraud are evolving and becoming more and more sophisticated;...

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30Nov

Fraud Trends 2016: Growth in Mobile-based Fraud is Coming

On: November 30, 2016

An old proverb says, “A thief is a thief, whether he steals a diamond or a cucumber.” In the fast-developing world of ecommerce, fraud and theft has become a growing problem within an international community of merchants selling diamonds, cucumbers, and everything in between. By 2021, mobile payments are...

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17Nov

5 Reasons to Stop Transaction Laundering Now

On: November 17, 2016

As fraud and risk mitigation procedures continue to evolve, criminal entities adopt new innovative ways to bypass those measures. One of such methods is transaction laundering. Transaction laundering is defined as the action whereby a merchant processes payment card transactions on behalf of another merchant, thus disguising the true...

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