Tag: payment processing
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has recently issued an advisory. It’s designed for financial institutions. The advisory is about illegal financial mechanisms associated with the trafficking of fentanyl and not only. Let’s dive into the topic and see how you can protect your business if you’re interested in chargeback insurance.
Money Laundering Risks: Chargeback Insurance
The above mentioned advisory by FinCEN issued on 21 August 2019 is an alert that companies in finance can’t leave in ignorance. The advisory highlights a variety of financial mechanisms that the traffickers of fentanyl and not only use to sell their products more easily and “succeed” in hidden payment processing schemes.
The CDC (Centers for Disease Control and Prevention) defines fentanyl as a synthetic (created by men) opioid that’s 50 times more powerful as compared to heroin and 100 times more powerful as compared to morphine. In … Read the restRead More »