By: Greg Baxley, Marketing Coordinator
E-commerce has produced a multitude of new payment methods, including e-wallets, virtual currency, mobile and wearables. Unfortunately, it has also yielded a horde of new fraud categories. One form, transaction laundering, allows prohibited merchants to find safe passage into the payment system by exploiting valid merchant accounts. Are you a victim of transaction laundering?
Transaction laundering violates merchant agreements with acquirers, allows prohibited goods and services to enter the payment system, flouts anti-money-laundering (AML) laws, and is being taken seriously by card brands. It is a growing threat to e-commerce and deserves commensurate attention by financial institutions.
Our Chief Product Officer Dan Frechtling and CEO of Rich Consulting Deana Rich designed and hosted a webinar to help you identify specific types of transaction laundering, walk through case examples that serve as cautionary tales and offer risk and compliance professionals best practices to keep portfolios clean of fraudulent merchants.
G2 Transaction Laundering Detection is the only multifaceted approach that looks both backward from the merchant to the violation, and forward from the violation to the merchant. Regardless of your access to the payment page or transaction details, Transaction Laundering Detection helps you identify the violating merchants and cut off transaction laundering at the source.
This webinar was recorded live on November 18, 2015.
- Deana Rich, President of Rich Consulting
- Dan Frechtling, Chief Product Officer for G2 Web Services