12 Jan

Transaction Laundering Invites FTC Attention

Last month, the Federal Trade Commission (FTC) announced it had followed a fraud money trail to a den of transaction laundering — compelling the operators to admit guilt, and holding them accountable for assisting in larger criminal enterprises.

With transaction laundering cases gaining greater attention in 2015, it would seem that…

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20 Aug

Could You Be Facilitating Fraud?

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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07 Apr

OCC-FDIC-CFPB Regulatory Olympics

 

 

The creation of the CFPB by the Dodd-Frank Act of 2010 not only added another financial regulator, it has changed the dynamics of existing regulators. Like an athletic team that has drafted a new player, the incumbents have found themselves sometimes competing, sometimes collaborating.

Or as one bank panelist at the ETA Transact 15 conference in San Francisco put it last week, “we now have the regulatory Olympics.”

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