May 7, 2018 | Fraud Detection, High-Risk Business, Interview, Security
Hidden high-risk industries could be hiding risky business behind ‘low risk’ MCCs, as this saves them from the acquiring bank’s high scrutiny applied during the on-boarding process of high-risk merchants. Merchants, involved in high-risk business, use camouflage tactics to ‘fly under the radar’ and negotiate favorable (low risk) processing rates.
Aug 4, 2017 | Interview, Transaction Laundering
You estimate the extent of TL to reach $352B worldwide. Criminals who abuse merchant accounts to process card payments for their illegal products or services are threatening legitimate e-commerce and merchant acquirers. In 2016, there were over 500,000 illegal shops online. What makes TL hard to detect?