Fundamentals of Card-not-Present Merchant Acceptance: Merchant Monitoring Best Practices

Name: Fundamentals of Card-not-Present Merchant Acceptance: Merchant Monitoring Best Practices
Brand: Web Shield Services
SKU: 9783981797336-V
Price: 3.99 EUR
Availability: OutOfStock
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By Christian Chmiel

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Description

This year’s edition provides risk professionals with the guidelines to set up a solid Merchant Monitoring Framework in compliance with Enhanced Due Diligence (EDD) requirements as imposed by legal authorities and the card associations. The previous three editions of this series focused on KYC-CDD procedures, explored specific fraud scenarios such as Transaction Laundering and zoomed in on (hidden) high-risk business types. ‘Fundamentals of Merchant Acquiring edition 2019’ explores the seven fundamental monitoring areas, their associated risk indicators and recommended alerts configuration. Depending on the merchant’s risk profile and on the priority of the alerts, immediate action has to be taken to prevent reputational and financial risk. Transaction Monitoring, Financial Monitoring and AML Monitoring are the cornerstones on which Reputation Monitoring, Content Monitoring and Transaction Laundering are built, while Regulatory Monitoring is the cement that holds the blocks together. This robust framework consists of almost thirty monitoring areas which are discussed into great detail. Card associations have enforced BRAM and GBPP programs, testimony of the great importance of Content Monitoring. All financial institutions – which includes merchant acquirers – are liable and need to respect business standards to ensure legal compliance at all times. Technology evolves and Machine Learning and Risk Assessment with Neural Networks are promising allies in the battle against Fraud. Detecting fraudulent merchants is key, but what if the bona fide merchant is abused by transaction launderers? Once the merchant is approved and accepted the acquirer needs to subject its merchant portfolio to Enhanced Due Diligence. In the age of Fintech and RegTech, ‘wilful blindness’ is not an option and non-compliance can result in the revocation of the acquirer’s license.

Product details

Binding:: Paperback
Number of Pages:: 234
Release Date:: 2018-11-29
Publication Date:: 2018-11-29
Publisher:: Web Shield Services
Languages:: Published: English, Original: English
ISBN10:: 3981797337

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