Transaction Laundering: Incremental of Unregistered E-commerce

Criminal action, including embezzlement, is antiquated. In any case, there is a sort of merchant-based, online embezzlement generally up to date to the payments industry. Known as Transaction Laundering (TL), this type of embezzlement is spreading rapidly, frequently undetected by Merchant Service Providers (MSPs), including payment processors and acquiring banks.

Mastercard denotes TL as 'the activity whereby a vendor processes payment card transactions for the benefit of another vendor.' One case of TL is the point at which a bloom shop merchant gets a green light from an MSP and after that connects the bloss ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.