Transaction laundering has quickly evolved into one of the payment industry’s most prominent and difficult problems. Also known as credit card laundering or factoring, this type of fraud occurs when legitimate merchant accounts are used to process unknown transactions for another line of business, both legal and illegal. In online sales, transaction laundering tops USD 200 billion a year in the US alone, of which at least USD 6 billion involves some type of illicit goods or services, sold by nearly 335,000 unregistered merchants.
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