A non-profit media organization name Danske Bank the 2018 Actor of the Year in Organized Crime and Corruption for its €230 billion money laundering scandal. Danske Bank nudged out 22 other contenders to nab the award bestowed by the Organized Crime and Corruption Reporting Project (OCCRP). The organization, which is comprised of investigative journalists, shines a light on individuals or...
From footwear and pharmaceuticals to apparel and automobile parts, 80 percent of the world’s counterfeit goods come from China. The counterfeit and pirated products market is a $1.7 trillion per year industry, and it is projected to climb to $2.8 trillion and slash 5.4 million jobs by 2022, according to “The Economic Costs of Counterfeiting and Piracy.” The report...
In New York, merchants can continue to make customers pay surcharges if they pay with credit cards, following the state and the plaintiffs’ moves this month to dismiss challenges to the practice in federal appellate court. Merchants will be permitted to charge customers surcharges or extra fees as long as they post credit card purchases in dollars and cents. Many...
Customer whims and demands, shifts in the economy, consumer buying habits, and technological advancements lead to changes in the payment industry. From expected growth in cross-border shopping to advancements in artificial intelligence, 2019 proves no different for high risk businesses. As we settle into the new year, let us talk about the top 8 high risk industry trends for 2019....
Have you noticed something different about credit card signature requirements recently? Many merchants are no longer asking customers to sign for credit card purchases. So, what’s the reason for not asking customers to sign anymore? Why have signatures for credit card purchases become obsolete? Why do credit card companies think they aren’t needed anymore? It’s simple! Just read this article...
Losses caused by online payment fraud aren’t expected to stop. Currently, they’re even greater than what you could find some years ago. The growth in fraud is driven by a continued epidemic of data breaches. If you want to learn what Juniper Research forecasts concerning online fraud and where you can get the best protection from payment fraud, just go...
The federal agency authorized to ensure the safety and efficacy of the nation’s drugs, medical devices, and food supply plans to take steps to give some hemp products a thumbs up following the recent adoption of the 2018 farm bill. The new law, which was signed in December 2018, designated hemp as an agricultural crop, essentially legalizing CBD oil and...
With the looming possibility of the United Kingdom crashing out of the European Union (EU), UK-based firms must protect their abilities to continue to sell their services to customers in the remaining EU countries. To do so, business must notify the Financial Conduct Authority (FCA) that they plan to seek full regulatory authorization. This moves allows new and existing regulated...
Mobile Security Problems Mobility is synonymous with convenience. In a contemporary mobile world, individuals and consumers are fast-tracking everything using smart technology, including finances. Mobile devices offer apps for easy payment, bank transfers, and quick transactions making the process of purchasing something nearly effortless. A mobile world creates a multitude of mobile problems and fraud has exploded recently as the...
