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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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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Transaction laundering – it’s easier than you think.

On: November 08, 2016

According to the U.S Census Bureau, the number of ecommerce transactions grew 3.7% between Q4 2015 and Q1 2016: an increase worth approximately $9.8 billion. With the rapid growth in ecommerce activity comes an increased risk of merchant-based fraud such as transaction laundering. What is transaction laundering Transaction laundering...

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False positives – a bigger problem than actual fraud?

On: November 02, 2016

Fraud is an ever-present and costly issue that plagues the payments industry. The sheer number of transactions being processed through payment networks makes it virtually impossible for industry stakeholders to trace where the money is coming from and where it is going. Technological developments have simplified the process of...

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Transaction Laundering – What’s the Big Deal?

On: October 22, 2016

With the rapid growth in ecommerce, new sophisticated merchant-based fraud schemes are developing at a rate that makes them increasingly difficult to detect. To fight this relentless wave of fraud, Merchant Service Providers (MSPs) such as acquiring banks, PSPs, ISOs, payment facilitators, hosting providers and online marketplaces are introducing...

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