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The US CBD market (which is projected to hit $16 billion by 2025) currently operates without significant federal oversight. Indeed, some describe the industry as the “wild west”—a regulatory-free zone that puts consumer safety at risk. On Friday, the FDA grasped the regulatory reins: the agency held a nearly 10-hour public hearing on cannabis-derived products…. 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

Recently, payment industry experts gathered at the Merchant Acquirers’ Committee (MAC) Level Up conference to discuss hot topics, industry news, and exciting solutions. In its 11th year, the MAC conference — which has now extended to four days — showcased educational sessions led by 55 speakers representing all corners of the payments industry. Below are… read more

It has been almost a year since the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA), a federal law that had prohibited most states from authorizing online gambling. Almost immediately, Delaware and New Jersey legalized sports betting (joining Nevada, where sports betting has long been legal) – followed in quick succession… read more

Did you know that all contact lenses – even decorative non-corrective contact lenses – are considered prescription-only medical devices in the US? That’s right! If a merchant is shipping contact lenses (even crazy vampire-eye lenses!) to the United States without properly requiring a prescription, then that merchant is violating US law and at risk of breaking card… read more

Federal Trade Commission Fines Herbal Company $12.8MM Recently, the Federal Trade Commission (FTC) announced its first case challenging an independent retail website in the use of fake paid reviews (See Figure 1). Cure Encapsulations, Inc., and its owner, Naftula Jacobowitz confirmed allegations that they had indeed made false and unsubstantiated claims for their so-called “fat… read more

risk management

The evolution of merchant compliance and risk management are themes that stemmed across all topics covered last month at the 10th annual Risk Summit Series in Riga and London. Payment industry professionals that represented organizations such as, the US Food and Drug Administration (FDA), National Association of Boards of Pharmacy (NABP), Alliance for Safe Online… read more

Recently, the Justice Department made public a legal opinion that has re-interpreted the federal Wire Act to include all forms of online gambling, not just sports betting. In doing so, it reversed a 2011 opinion on the Act, which established the law as applicable to only sports betting (See Figure 1). At this point, the… read more

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