Transaction Laundering: The Reasons Why Fraudsters Do It

Transaction Laundering: The Reasons Why Fraudsters Do It

For payment service providers, knowing why transaction laundering occurs is important to stopping it. We feel there are three reasons fraudsters turn to transaction laundering: To sell illicit and/or illegal goods, such as drugs To get better rates, both credit card acceptance and processing To lure consumer credit card data As we’re days from holiday…

We Think This Was a Fraudulent Website and Here’s Why

We Think This Was a Fraudulent Website and Here’s Why

We could be wrong, but once in a while we’ll get a merchant account application from an e-commerce merchant, whose website raises red flags. We’re forced to play judge and jury on whether we go forward in the merchant boarding process or decide it is a fraudulent website. Within the last six months, one particular…