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Last week we had the opportunity to attend the Merchant Acquirer Committee’s regional conference in Los Angeles, where I was impressed by the quality and depth of the information presented.

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In simpler times, most high risk websites could be detected by crawling and classifying the public web.

But as acquirers, processors and ISOs become more effective at stopping online fraud and prohibited activity, bad actors have gone underground. There are various means to do this. An increasingly attractive ploy is transaction laundering (TL).

 

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transaction laundering

Transaction laundering is a rising concern for acquirers and payment processors as it is prevalent, difficult to identify, and puts acquirers at risk for fraud, brand damage, and assessments.

Transaction laundering is an extremely difficult problem that occurs when legitimate merchant accounts are used to process unknown transactions for another line of business, be they illegal or otherwise. Using the approved merchant’s payment credentials, the unknown business processes payments for products and services that the acquirer does not know about, leaving the acquirer exposed to…

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