Transaction Laundering 101: what banks and MSPs should know

By: Ron Teicher On: January 04, 2017 In: News Comments: 0

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.

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EverCompliant Fights Transaction Laundering

By: Ron Teicher On: December 28, 2016 In: News Comments: 0

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.

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The Road To Overcoming Data Overload

By: Ron Teicher On: December 01, 2016 In: News Comments: 0

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.

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How money laundering has gone digital

By: Ron Teicher On: November 28, 2016 In: News Comments: 0

Evercompliant CEO Ron Teicher explains how criminals can now funnel illegally-obtained money through online payment systems.

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The Drug Dealer In Your Web Browser

By: Ron Teicher On: November 10, 2016 In: News Comments: 0

Illicit dealings once isolated to the Dark Web are spilling out into the light.

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Transaction Laundering: Unreported Ecommerce On the Rise

By: Ron Teicher On: November 07, 2016 In: News Comments: 0

Criminal activity, including fraud, is ancient. But there is a type of merchant-based, online fraud relatively new to the payments industry. Known as Transaction Laundering (TL), this form of fraud is spreading quickly, often undetected by Merchant Service Providers (MSPs), including payment processors and acquiring banks.

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19Sep

Traditional Risk Scoring is Dead

By: Ron Teicher On: September 19, 2016 In: News Comments: 0

An entire industry – card payments acquiring and processing – relies its risk management methodology on chargebacks optimization as its main, if not sole, operational target. Simply put, the higher the likelihood for chargebacks for a given merchant category, the riskier the merchant will be considered by a credit...

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08Sep

Merchants Easily Fooled by Hijacked Epayments

By: Ron Teicher On: September 08, 2016 In: News Comments: 0

Fraudsters are in general a nefarious bunch; as annoying as a mosquito, their bite does not discriminate against rich or poor, big or little. Last month, for example, Birkenstock pulled its entire collection from Amazon, mostly as a protest over the many merchants that were selling knockoffs of Birkenstock...

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07Sep

Following the Money Trail: The Anatomy of Transaction Laundering

By: Ron Teicher On: September 07, 2016 In: News Comments: 0

With the recent escalation in online fraud attacks, merchant fraud, which has posed a longstanding risk to the payments system has evolved into a new category of fraud- transaction laundering, a security threat that is not only hard to detect but even more challenging to eliminate.

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30Jun

MARKETPLACES FACE NEW AND UNEXPECTED RISK THREATS – TRANSACTION LAUNDERERS

By: Ron Teicher On: June 30, 2016 In: News Comments: 0

E-commerce sites may never completely replace Main Street stores, but online shopping is growing at a very healthy clip. In 2015, online shoppers in the US spent some $300 billion, and that figure is expected to grow to nearly $500 billion by 2018.

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