Online Marketplaces - How to Stop Fraud

Online retailers have found that in addition to selling products, letting third party vendors sell on their platform has enabled them to grow by leaps and bounds. For example, Amazon has 2 million third-party sellers and over 50% of all items sold are through them. The benefits to online retailers for having third-party vendors include:

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Topics: Merchant Risk, Fraud Prevention, Identity Fraud, ID Verification, Onboarding, Risk Management

Our 6 Can't Miss Sessions at MRC Las Vegas 2017

It is no secret that fraud remained one of the top concerns for merchants around the world in 2016. Identity theft, card-not-present fraud, false declines, and chargebacks, are just a few of the top-of-mind issues payments and fraud professionals are tracking even more carefully in 2017.
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Topics: Merchant Risk, Conferences, Fraud Prevention, Payments

DeRisking a year after Chokepoint

Recent FCA Research reminds us about the unintended consequences of working with high-risk businesses and individuals. While the report recognizes that terminating accounts is far more complex than just compliance issues, it continues to show that a significant number of organizations are still being affected by banks’ fear of dealing with high-risk businesses and individuals. The report concludes by acknowledging that part of the solution is understanding the balance between cost and risk for both the banks and their clients. This conclusion is in-line with US regulators’ guidance last year.

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Topics: Merchant Risk

Our Top 5 Take Aways from MAC 2016

This year's Merchant Acquirer's Conference (MAC) provided three days of learning and great food amid the beautiful fluorescent lighting of the Las Vegas Venetian. The show featured a great array of speakers and spotlights, touching upon every aspect of acquiring. Listed below are our 5 key takeaways from MAC 2016... as well as one "bonus" take away.

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Topics: Merchant Risk, Anti-Money Laundering

Risk Beyond Acquiring: The importance of Merchant Risk Across FinTech

In our Vendor Spotlight at MAC 2016, Jose Caldera, IdentityMind VP of Marketing & Product, presented a collection of use cases and examples of how IdentityMind clients are applying our platform for merchant risk, fraud prevention, anti-money laundering, and terrorist financing prevention. 

The session provided a great introduction to the benefits of our platform, and we've provided a synopsis of it here for those who missed the session, or were curious for more information. 

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Topics: Merchant Risk, Conferences

Our 13 Can't-Miss Sessions at MRC Vegas 2016

In preparation for next week's MRC Vegas 2016, we've compiled our own (very biased) list of recommended sessions at the conference.

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Topics: Merchant Risk, Conferences, Fraud Prevention

7 Can't-Miss Sessions at MAC 2016

In preparation for the show, we've assembled our (biased) preview of the top sessions at this year's 16th annual Merchant Acquirers Committee Conference, March 8-10 in Las Vegas.

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Topics: Merchant Risk, Conferences

Announcing Merchant Sentinel: Cost Effective Compliance for Banks Serving High Risk Merchants

We're proud to announce today the release of our Merchant Sentinel Program. 

Merchant Sentinel provides banks and their high-risk clients with a common compliance framework, offering automated capabilities for monitoring, detecting, preventing and reporting suspicious money laundering activities (AML), as well as domestic and international support for Know Your Customer (KYC), sanctions screening, and fraud prevention.

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Topics: Merchant Risk, Anti-Money Laundering, Compliance

Merchant Sentinel: A Cost Effective Option for Banking High Risk Merchants

We announced the Merchant Sentinel program last Thursday to provide banks operating in, or entering high risk industries with a clear framework for handling compliance and managing risk across the portfolio.

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Topics: Merchant Risk, Anti-Money Laundering, Compliance

FDIC Guidance, Operation Choke Point, & IdentityMind Version 1.18

We’re proud to announce today the availability of IdentityMind Platform 1.18, offering financial institutions a practical response to recent FDIC guidance and elevated enforcement following Operation Choke Point.

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Topics: Know Your Customer, Merchant Risk, Anti-Money Laundering, Fraud Prevention

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