Last year, mobile devices accounted for a third of the total payments on ecommerce retail sites during Thanksgiving and Black Friday sales, making it clear that more people than ever are doing their online shopping via their mobile device.
This month marks the second anniversary of the deadly attacks in Paris, when terrorists Said and Cherif Kouachi attacked the Charlie Hebdo satirical magazine on January 7, 2015 and when Amedy Coulibaly, a friend of the Kouachi brothers gunned down innocent grocery shoppers and held 15 others hostage in...
Transaction laundering often masks activities explicitly prohibited by international law and card associations such as drugs and weapons trade, illicit pornography, sales of counterfeit goods, illegal pharmaceuticals, terrorism financing and money laundering.
Israel-based cyber-intelligence company EverCompliant is the first line of defense against transaction laundering, the digital payments space’s equivalent of traditional money laundering. In a nutshell, transaction laundering allows prohibited merchants to find safe passage into the payment system by exploiting valid merchant accounts.
Due to the overwhelming number of emerchants and data associated with these merchants, MSPs are faced with data overload. Collecting data on merchants is not enough. They do not know what to do with it.