Visa is introducing the Visa Integrity Risk Program (VIRP), on 1 May 2023
The Visa Integrity Risk Program (VIRP) will replace Visa’s current Global Brand Protection Program (GBPP), and will subsequently enforce the term “High-Integrity Risk Merchants” in place of its current “High-Brand Risk Merchants”. The...
Increase in e-commerce during pandemic, means increase in online money laundering
As a result of the pandemic, e-commerce has boomed for the past two years. At the same time, the opportunity to use online transactions (especially credit cards) to attempt money laundering has also increased. According to the Electronic Transactions Association (ETA)...
Mastercard’s New Rules for Adult Content and Services – Will this Affect You?
Mastercard’s New Rules for Adult Content and Services – Will this Affect You? Effective on October 15 2021, Mastercard announced its recent changes and updates to adult content and services, which will directly affect all merchants in this category. The new...
Know Your Transaction (KYT) Guide 2021
Know Your Transaction (KYT) is a hot trend in payment compliance and regulatory technology. All payment risk professionals are advised to learn and adopt KYT in their daily operations. In this guide, you will gain an understanding of the followings. What insights...
Transaction Laundering in 2019 – Time to Review the Monitoring Strategy
The rapid development and rising volume of e-commerce transactions in recent years has encouraged the outbreak of cybercriminals – who are finding more and more complex ways to conceal profits that are likely to have been earned illegally, via an online environment....
Trend of Child Sexual Abuse – Insights on Online Payment Regulations
Child exploitation is an alarming problem throughout whole world. It particularly threatens the safety of children in developing or underdeveloped countries, where poverty is the biggest cause of child abuse or child sex tourism. Owing to the technology enhancement...
Addition of Cryptocurrency and High-Risk Securities Merchants to Mastercard BRAM Program
Mastercard has added “cryptocurrency merchants” and “high-risk securities merchants” to the Business Risk Assessment and Mitigation (BRAM) program, effective 12 April 2018. Below is an extract of the announcements and shall not be deemed the full version of such...
What is Transaction Laundering?
Illegal traffickers attempting to distribute prohibited goods online, in exchange for payments through banking facilities, would typically create merchant accounts that initially pose as websites marketing authentic products. Some illegal traffickers assume that banks...