Anti-money laundering startup EverCompliant has announced an investment from American Express Ventures. The companies said this week that American Express Ventures is joining existing backers Arbor Ventures, Carmel Ventures, StarFarm Ventures and Nyca Partners. EverCompliant, which did not reveal exactly how much funding American Express...
Ever wonder why it’s called “laundering money?” It’s because this type of fraud literally started with laundromats. In the 1920s, laundromats were a novel business. Regular folks (the ones who didn’t have housekeepers for that sort of thing) were enamored with the coin-operated machines that,...
Agree or disagree with the Second Amendment, there’s nothing wrong with a website selling goods like hats and t-shirts to people who wish to wear their support on their sleeves. Or is there? Banks didn’t notice it at first, but on closer scrutiny, one particular...
Online stores purporting to sell assorted household goods are being used as a front to collect internet gambling payments, reported Reuters. Per an examination by the international news agency, seven “dummy” sites operating in Europe pretended to sell DVD cases, fabric, flags, gift wrap, maps, mechanical...
November 29, 2017
Ever wonder why it’s called “laundering money?” It’s because this type of fraud literally started with laundromats. In the 1920s, laundromats were a novel business. Regular folks (the ones who didn’t have housekeepers for that sort of thing) were enamored with the coin-operated machines that, for the first time, saved them the trouble of doing […]
September 01, 2017
Agree or disagree with the Second Amendment, there’s nothing wrong with a website selling goods like hats and t-shirts to people who wish to wear their support on their sleeves....
April 18, 2017
Getting paid is a worker’s number one priority — including the fraudster. And that’s why they have turned to alternative payments as a way to both get paid and elude the...
January 09, 2017
In the days of Al Capone, laundromats used to, literally, launder money. Now, that’s any website that a clever bad guy sets up or takes over. Today, Trustwave will launch...
July 22, 2020
The U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC) are cracking down on scams known as credit card laundering or transaction laundering, according to The Wall Street Journal (WSJ). Such fraud occurs when individuals and companies have websites making them look like legitimate businesses, such as for selling flowers, but are out […]
June 23, 2017
Online stores purporting to sell assorted household goods are being used as a front to collect internet gambling payments, reported Reuters. Per an examination by the international news agency, seven “dummy”...
June 23, 2016
A recent guest blog presented by G2 Web Services explores the obligations acquirers and third parties have when it comes to filing a Suspicious Activity Reporting (SAR) form if there...
