B2B Payments

Fraud Prevention, Regulatory Compliance and Risk Mitigation Tools Integrated into Global Payout, Inc

Global Payout, Inc. a program manager of B2B custom and conventional electronic payment solutions for domestic, international and multinational businesses, organizations and government agencies worldwide, announced they have integrated a set of fraud prevention, regulatory compliance and risk mitigation tools to its MoneyTrac(TM) Consolidated Payment Gateway (CPG) payment platform. This gives Global Payout’s (GP) clients, as well as their client’s customers that are using GP products,  mitigating money laundering, terrorist activity funding and/or other illicit activities, as well potentially mitigating identity theft attempts.

The  tools will be accessed from the content-enabled workflow solutions designed specifically for professionals in the legal, corporate, risk management, government, law enforcement, accounting, and academic markets. Global Payout stated they will be using this leading provider of computer-assisted legal research as well as business research and risk solution services via API (application programming interface) on all of its product offerings and services. The API will provide automated and efficient high volume processing for instantly-automated decisioning, and to access electronic identity verification associated with customer acquisition at account opening and for ongoing customer relationship management.

The company also announced database interfaces from OFAC (Office of Foreign Assets Control), and from INTERPOL (International Criminal Police Organization) to enhance fraud prevention and risk mitigation at an international level.

“With our ever expanding market opportunities here and overseas, the many different market niches we are serving and the number of products and services we have to offer, especially in connection with our recent launch of it’s first international VISA General Purpose Reloadable Debit Card, we want to ensure our customers and industry regulators that we are upholding the highest level of compliance and fiduciary responsibility possible,” said Jim Hancock, the CEO of Global Payout. “We believe that our latest risk management partner, INTERPOL and OFAC provide unparalleled levels of security and background checks sufficient to assist Global Payout from inadvertent participation in illicit activity. As we continue on or rapid growth trajectory, we want to assure our clients and markets of our honorable intentions,” he added.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Digital Fraud Tracker Report

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