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Blog Category: Transaction Laundering

Transaction Laundering Hate Groups

Tensions in America rise as the pandemic-fueled economic recession sweeps the nation. Hate groups are among many bad actors who are taking advantage of the current social and political turmoil by peddling violence, misinformation, and fraudulent products online. According to the Southern Poverty Law Center, nearly 1,000 hate groups were located in the United States… read more

transaction laundering

With the continued growth of e-commerce, transaction laundering – a scheme in which an entity hides transactions for illicit goods and services through the use of a seemingly-unrelated merchant account – is on the rise. The payments industry has been aware of transaction laundering for years, and G2 (via our Transaction Laundering Detection Solution) has… read more

transaction laundering

The war against transaction laundering continues! The latest battle involves “negative option” sales, where a seller treats a consumer’s silence (that is, their failure to reject an offer) as consent to be charged for goods and services. See 16 C.F.R. § 310.2(w). Where a seller fails to meet federally-mandated disclosure, consent, and cancellation requirements, negative… read more

As new high-risk merchants establish a presence in ecommerce, weak points in the payments system are exposed Last week, Dan Frechtling, president at Verisk Financial G2 discussed the growing presence of three high-risk ecommerce markets during a panel discussion at the annual ETA TRANSACT conference in Las Vegas, Nevada. Adult-oriented websites, online pharmacies, and virtual… read more

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