Proporcionamos a nuestros clientes
asesoramiento experto y las mejores prácticas de la industria
LLÁMENOS HOY
503-670-7772
Menu
Search

In The News

Home > BSA/AML & Consumer Protection > Worldwide Payment Processor and Payments Industry Executive to Pay $40.2 Million to Settle FTC Charges of Assisting Fraudulent Schemes and Credit Card Laundering
May26 - 20

Worldwide Payment Processor and Payments Industry Executive to Pay $40.2 Million to Settle FTC Charges of Assisting Fraudulent Schemes and Credit Card Laundering

One of the biggest payment processing companies and its former executive will pay more than $40.2 million to settle Federal Trade Commission charges they knowingly processed payments and laundered, or assisted laundering of, credit card transactions for scams that targeted hundreds of thousands of consumers.

According to the FTC’s complaint, Atlanta-based First Data Merchant Services, LLC (First Data) allegedly ignored repeated warnings from employees, banks, and others that Chi “Vincent” Ko, through his company that served as an independent sales agent (ISO) for First Data, was laundering, and First Data was assisting and facilitating laundering, payments for companies that were breaking the law over a number of years. Ko was later hired as an executive at First Data. Read the complete article HERE.

Categories

Archives

Events

May
5-7, 2021

The 2021 IMTC EMEA event is the first-ever hybrid event of the Cross-Border Payment Industry in Europe. Learn how to register for this event here.

March
9-11, 2021

IMTC LATAM 2021 in Buenos Aires will feature speakers, a trade fair, panelists, courses, seminars and more. Learn more and register for this event here.

CONTÁCTENOS

Complete todos los campos marcados con * y envíe el siguiente formulario para
hacer su consulta.

PÓNGASE EN CONTACTO CON NOSOTROS HOY

Complete todos los campos marcados con* y envíe el siguiente formulario para hacer su consulta.

  • Este campo es un campo de validación y debe quedar sin cambios.

Call Now Button