What is transaction laundering and what is the Industry doing about it?

Transaction laundering has quickly evolved into one of the payment industry’s most prominent and most difficult problems. Transaction laundering — also previously known as “undisclosed aggregation” or “factoring” — occurs when a merchant processes unknown transactions on behalf of another business. This hidden business is often engaged in prohibited activities, and the “front” merchant may…

The new PCI DSS 3.2 standards – New authentication requirements for cardholder data

The new PCI DSS 3.2 standards – New authentication requirements for cardholder data. Poor password management – including the continued reliance on default, stolen, weak and non-unique passwords – is a key factor in more than 80% of hack-driven breaches, according to Verizon’s 2017 Data Breach Investigation Report. In response to growing waives of fraud…