Danske Bank A/S is based in Denmark. The authorities are now focused on companies that provide payment services. They’re worried about payment processing that’s becoming so complex that it’ll be rather difficult to reveal the illicit transactions hidden by criminals. If you want to know more about the topic, as well as discover an exceptional high risk merchant account for your business, just go on reading below.
Dirty Money Risk in Payments
The world is becoming more and more concerned about the security issues in the payments field. Those responsible for security are taking efforts to build large, cross-border systems that can help process payments instantly. E.g., Nordic banks are now focused on creating a region-wide network. In addition, the European Central bank has already introduced a similar settlement system.
According to Samuel Haskins, a PA Consultingfinancial services expert,the payments industry goes on evolving, andsingle organizations are now processing fewer transactions.This makes it challenging for banks to monitor suspicious behavior. Danish Business Minister Rasmus Jarlovmentions that they aim to always be ahead of the criminals.
An international coalition that consists of pension funds, government entities, and asset managers is suing Danske Bank. The reason has to do with a money-laundering scheme tied to Russia. This Russian laundromat scandal, which is drawing in others in Austria and elsewhere, has raised big red flags.
Olav Haazen, a lawyer with Grant & Eisenhofer, says that nobody would have imagined that an elite, well-established European bank like Danske would be associated with money-laundering one day, not to mention the scale of the case. In fact, this is among the most shocking money laundering scandals throughout history.
The Most Secure High Risk Merchant Account
The SWIFT Business Forum Nordics studied the potential that the financial services community in the region had regarding the delivery of technological innovation and how it could manage the latest risk factors.
Given the issue of payment risks is a hot topic around the globe, it’s no wonder that merchants are looking for payment experts that can guarantee exceptional fraud prevention services.
Such services do exist. Only, you should take the time to find the right payment processor that can help you protect your business from fraudsters in the best possible way, while charging the lowest rates in the industry.
With a true payment processing specialist, you can be sure to enjoy the latest merchant services, including the most secure high risk merchant account.
According to Dag-Inge Flatraaker, SVP Payment Infrastructures at DNB, it’s important for banks to have a proper infrastructure in place. This is how they can not only process payments instantly but also manage the risks of transactions being processed instantly.
Hans Van Den Bosch, Global Sector Head of Consumer Brands, Retail and Healthcare, Global Liquidity and Cash Management at HSBC, notes that the B2C space represents the most obvious potential for instant payments.
With all this in mind, take the time to find a reliable and secure payment processor to work with. Otherwise, you’ll have a difficult time protecting your business from online payment processing fraud and move forward successfully.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that provides the most secure and cheapest high risk merchant account in the industry. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.