Druing their presentation at RiskConnect 2019, Bastian Obermayer and Frederik Obermaier, the two investigative journalists behind the Panama Papers leak, explained how they mined huge amounts of data for insights into the murky world of offshore finance.
Fakes are real, big business and counterfeit goods are ubiquitous both on- and offline. The merchants who sell them pose increased risk for the acquirers and payment service providers (PSPs) who provide them with card acceptance.
The noun ‘con’ is short for ‘confidence trick’, a swindle involving money in which the victim’s trust is won by the swindler. Con artists use various well-honed tactics to defraud their victims. As an Underwriter, you should know how to spot them.
At the end of June 2019, Visa announced worldwide harmonisation of requirements for free trial merchants. We examine these requirements and highlight the similarities and differences with the Mastercard requirements that came into effect on 12 April 2019.
Transaction laundering has always been a multifaceted problem. One of its most insidious forms is the competitor takedown attack, where fraudsters weaponise card scheme test transactions to discredit legitimate merchants.