AML & Merchants: Why You Should Care, Presented by Mastercard

Webinar
5 Feb, 2025
1:00pm London (1 hour)

Summary

Money-laundering is a societal challenge that touches all areas of the economy. It involves the placement, layering, and integration of money to ultimately obfuscate the proceeds of crime and to make transactions look legitimate. The onus has traditionally been on financial institutions and named regulated high-risk industries (e.g. cryptocurrency and gambling) to identify suspicious transactions and report to the authorities. However, by only focusing on these areas, we risk seeing only half the picture in a complex web of crime.

This webinar contends that money laundering is a network challenge, and only through each party in the payments journey playing their part can we hope to combat it. Acquirers and merchants clearly play a key role in the payments ecosystem, and therefore also have a responsibility, beyond the traditional high risk industries, to combat money-laundering. This webinar seeks to highlight how acquirers and merchants can help in the fight against crime. It will draw upon some key money-laundering case studies and typologies and also highlight what Mastercard is doing at a network level to assist our industry to identify and stop financial crime.


Learning Objectives

  • After attending this webinar we hope that acquirers and merchants in particular will feel empowered to act on money-laundering, i.e. to begin to make it a strategic priority as they will feel more educated to know what is going on
  • It is an aim of the webinar to make acquirers and merchants aware of money-laundering typologies relevant to them. It is also to educate merchants that if they are unwittingly being used for money laundering then their acquirers would possibly need to take steps to redress.
  • We hope that the audience will also be aware that they can call upon Mastercard's Financial Crime Solutions team for advice, support, and solutions when it comes to identifying card based money laundering.

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Speaker

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Conrad Lennard Director, Product Management & Enablement Mastercard
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