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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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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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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