Transaction Laundering: The Next Threat to the Payments Industry

June 10, 2015 • Published Categories Acquirer Programs Tags , , , , , , , ,

Cross posted by D. E. Wilson, Jr., Venable LLP Transaction Laundering (TL), sometimes referred to as “undisclosed aggregation,” or “factoring,” is a growing threat to the payments industry. Money laundering by another name, it is the dark side of payment facilitation, an established, legitimate aggregation model … Read more

The Consumer Financial Protection Bureau and Payment Processing

March 5, 2015 • Published Categories Industry Topics Tags , , , , , , , ,

Guest post by Andrew Bigart, Venable LLP                The payments industry, particularly the nonbank side, has traditionally been free from direct federal regulation or supervision. Over the past several years, however, the federal government has focused on the important role … Read more

A 2015 Road Map for Payment Processing Compliance

January 23, 2015 • Published Categories Industry Topics Tags , , , , , , , , , , ,

Guest post by Ellen T. Berge and Andrew Bigart, Venable LLP The past year was a big one for the payments industry with the introduction of new products, the growth of virtual currencies, and, of course, continued government pressure on payment processors and non-bank entities … Read more