FTC settles credit card laundering scheme
The FTC has announced a settlement with two defendants charged with laundering millions of dollars in credit card charges through fraudulent merchant accounts. A complaint filed by the FTC stated the defendants created Money Now Funding to launder funds from fraudulent operations and processed almost $6M through the credit card network. A monetary judgment of $5.8 million has been suspended due to the defendants’ inability to pay. For additional details, see "Credit card launderers barred and fined," in our Penalties pages.
presented by John Burnett
presented by Jack Holzknecht, Robin Cooper
presented by Barry Thompson, Arvin Clar
Recognizing Money Laundering and Suspicious Activity
Annual training on robbery response
Recognizing and Avoiding Fraud Before it Occurs