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The Latest on Internet Pharmacies, Supplements, Designer Drugs, and Other High-Risk Merchants

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How Does the Partial Rollback of Dodd-Frank Affect Payment Facilitators and UDAAP?

The US House of Representatives voted this week to repeal parts of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the 2010 legislation that brought significant changes to financial regulation in the United States after the Great Recession. Because Dodd-Frank led to the creation of the Consumer Financial Protection Bureau (CFPB), payment facilitators and…

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Ghost Guns Pose Reputational Risk for Payment Facilitators

Payment facilitators typically prohibit merchants selling firearms because of card brand rules, and because the complex web of jurisdictional laws in the US makes it difficult to track the legality of weapon purchases. Despite this prohibition, some merchants try to skirt the terms and conditions of payment processors by selling firearms that aren’t technically firearms…

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“Hate/Harm” Content Poses a Reputational Risk for Card Brands and Payment Facilitators

With the gaining momentum of the alt-right movement over the past few years, the US and other Western countries have seen an increase in hate groups and other extremist organizations that frequently operate and organize through the internet. Although the First Amendment of the US Constitution offers broad protections for speech, card brands, payment facilitators, and…

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Illicit IPTV: The Streaming Content May Be Cheap, but the Fines Are Expensive

Would you like instant access to thousands of movies, premium TV channels, and pay-per-view content for a low monthly subscription fee, or even for free? These are two examples of the promises that providers of Internet Protocol Television (IPTV) make to consumers to entice them to purchase their products. However, merchants who offer unauthorized IPTV…

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Acquirers and Consumers Should be Wary of Debt Settlement Services

  US household debt hit an all-time high in 2017, driven in part by an increase in credit card balances and an uptick in serious delinquencies, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data. That means more desperate consumers looking for relief. Debt settlement companies pitch their services as a…

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Mugshots: US States That Prohibit Websites From Charging a Fee to Remove Arrest Photos

Over the past decade, dozens of for-profit websites have been created for the purpose of publishing arrest records, including booking photographs — more commonly known as “mugshots.” Many of these websites make money by charging the arrestee a fee to remove the image. Is this legal? The short answer is: it depends on the state.…

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Transaction Laundering: How LegitScript Helps Payment Providers Beat It

It is an age-old rule: criminals, in order to survive, try to stay one step ahead of the good guys. Despite rules put in place by companies like Visa and MasterCard that disallow criminals from getting merchant accounts, some illicit drug and other merchants still get paid via Visa, MasterCard, PayPal, and other popular payment…

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