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Risk & fraud management
What happens if a fraud is detected during the transaction?
If fraudulent activity is detected during the payment transaction, the transaction is stopped and manually reviewed by our team members. After checking the transaction, a chargeback may be issued to return money to the client. If it’s detected that the business is taking part in criminal activity, a report is sent to responsible authorities.
What is payment gateway fraud?
Payment gateway fraud is a way of purchasing goods using another person’s funds or personal details without a card present. In these situations, a chargeback is issued.
What business is considered high risk?
Common high-risk merchants are: trading, gambling, gaming, travel agencies, cryptocurrency, telemarketing, e-cigarettes, computer software and similar.
How long does risk assessment take when onboarding?
Risk assessment of the business is a crucial process before starting the onboarding. Depending on the business and given information, risk assessment can take from few hours to weeks. The more information provided, the sooner the onboarding process can begin.
What is AML (Anti-money laundering)?
Money laundering is illegally obtaining a large amount of money from criminal activities and making it look legal through buying or selling assets, business transactions etc. AML is a process that detects such an activity through money transactions. AML includes different regulatory standards, laws, and policies that prevent financial crime.