Blog

Coronavirus Scammers Target Vulnerable Consumers

While COVID-19 spreads worldwide and panicked consumers rush to acquire pandemic essentials, scammers are out in full force. In the past few weeks, G2 has seen a dramatic increase in healthcare-related scams, especially in the following categories:   Protective Face Masks Face mask fraud is rampant, as bad actors attempt to take advantage of vulnerable… read more

Post Date: Posted on March 19, 2020April 16, 2020 Post Categories: False Claims, High-risk Merchants, Merchant Fraud, Merchant Risk

Regulators Target Transaction Laundering Operations

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

Post Date: Posted on June 27, 2019February 14, 2020 Post Categories: Fraudulent Credit Card Processing, Merchant Boarding, Transaction Laundering

Merchant Risk and Weight Loss Scams

Weight loss scams come in all sorts of shapes and sizes – pun intended! In addition to causing consumer harm, these boondoggles lead to chargebacks, regulatory scrutiny, and brand-damaging publicity. Here at G2, we keep an eye out for all types of merchant risk, including the following: Misleading Claims The FTC warns third parties to… read more

Post Date: Posted on June 20, 2019February 14, 2020 Post Categories: Merchant Risk, Misleading Business Models, Misleading Marketing Claims, Negative Option Marketing

Transaction Laundering and Negative Option Scams

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

Post Date: Posted on June 12, 2019February 14, 2020 Post Categories: Merchant Risk, Negative Option Marketing, Transaction Laundering

Shifting Online Gambling Landscape Requires Better Merchant Monitoring

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

Post Date: Posted on April 10, 2019June 11, 2021 Post Categories: Merchant Risk, Online Gambling

Key Trends Driving Tomorrows Payments at MasterCard Global Leadership Conference

Navigating the Future of the Digital Augmentation was the keynote address presented by Aric Dromi, futurologist and digital philosopher for Volvo Car Group, at the 2016 MasterCard Global Risk Leadership Conference in Split, Croatia last week. Aric explained that…

Post Date: Posted on October 11, 2016 Post Categories: Blog

The Lengths Criminals Will Go to Perpetuate Fraud

It’s no secret that fraudsters are notoriously devious, enacting broad schemes of deceit that can span multiple offenses. Every time a fraudster changes their tactics, it makes tracking them more difficult for merchant acquirers and law enforcement. In the 11+ years that G2 Web Services has offered risk solutions to the acquiring market, we have identified millions of violations…

Post Date: Posted on July 27, 2016 Post Categories: Blog

UK Ban on Legal Highs Turns Dealers to Transaction Laundering

Following the path of traditional drugs, sellers are hiding these substances from law enforcement through the means of e-commerce and Transaction Laundering. Acquiring banks will be responsible for…

Post Date: Posted on July 14, 2016 Post Categories: Blog

Less Than 90 Days Until Phase 1 of Same-Day ACH

According to a recent article from Digital Transactions, 95% of the top 22 ACH originators in the US plan to offer Same-Day ACH origination services by the end of the year. The article also mentions a survey conducted by EastPay in March where…

Post Date: Posted on June 27, 2016 Post Categories: Blog

Insight Hub: A Premiere Resource for TLD

The act of detecting and removing fraudulent merchants who are using transaction laundering techniques is a new and complicated process. In an effort to further aid our clients with comprehensive risk solutions, we launched the Insight Hub earlier this year as a way to connect our TLD clients with the latest information relating to the global, evolving threat of…

Post Date: Posted on June 21, 2016 Post Categories: Blog