Compliance is hard, but with InvestiGate, it becomes easier than ever before. As an on-boarding hub that gathers all risk intelligence in one place, it helps you evaluate a merchant’s viability through dynamically updated risk scores and indicators – so you can take informed on-boarding decisions.
Built on the dramatically expanded technological framework of our previous GEiDD and SENTINEL solutions, InvestiGate empowers your risk team with a versatile tool to ferret our fraudsters and dubious business ventures.
Want to know what differentiates InvestiGate from similar solutions? Here are five features that might pique your interest:
For more details, and to request an online demo or trial, please contact compliance (at) webshield.com.
Mastercard Clarifies their Rules: Member Areas Have to Be Screened
Screening for website content that is forbidden per credit card association rules has always been the most basic building block of any compliance strategy in the card acquiring space.
Despite this common practice, there remained a certain blind spot: Websites that do not advertise their complete content publicly, but feature password protected member sections. Except for limited manual reviews, these were generally excluded from monitoring efforts – and thus left room for undetected content violations.
Recently, Mastercard clarified their stance on those cases: A member is only eligible for mitigation in the Mastercard Merchant Monitoring Program, if the website in question has been monitored completely. This explicitly includes any restricted member areas.
Web Shield DeepScreen
The problem of member area screening has been well-known by our product development team for a long time. In fact, three years ago, we already presented a prototype of our DeepScreen solution, which automatically crawls member areas (given a matching username and password). At the time, member sections were still considered a “grey area” of content monitoring and potential customers were not interested.
This puts us at an advantage now: our development has integrated the already mature Deep Screen technology into our current solutions. As a result, SENTINEL and PULSE users will have the following modules at their disposal to ensure their compliance with Mastercard’s BRAM Program:
SENTINEL Deep Screen
PULSE Deep Screen
Special Merchant Cases
Sometimes the business model of a merchant may make external monitoring unfeasible. Big video hosting services – so called “tube sites” – operating in the adult entertainment space are a prime example. They feature such a wealth of constantly changing content that an external web crawler might be overwhelmed.
In these cases, internal monitoring procedures have to be developed and implemented. With years of experience in content monitoring, we offer merchants checkbox solutions to keep their content compliant.
When on-boarding a merchant who uses our specialized content monitoring solution, issued certificates will be automatically verified – so you can rest assured that proper safeguards are in place.
Contract and Pricing
For more details, regarding a contract and pricing, please contact compliance (at) webshield.com
In August, VISA announced they would require acquirers to comply to significantly more stringent concerning merchant locations starting October 15. Acquirers will have to make sure they are licensed for the principal place of business of the merchant and any additional locations. The burden for ascertaining a merchant’s location in this case lies squarely on the shoulders of acquirers, with high fees put in place for any violations.
To help acquirers to make their portfolio compliant, Web Shield has just launched its eLoc Merchant Locator. The service uses open source information to ascertain the real merchant location – filtering out diversions like incorporation services, mail forwarding and virtual offices.
The second edition of Web Shield’s “Fundamentals of Card-not-present Merchant Acceptance” has been released today. Aimed at merchant underwriters working for acquiring banks and payment service providers, it serves as a reference guide for online due diligence investigations. The core of the book is a holistic Investigation Strategy, which encompasses a comprehensive risk taxonomy and a variety of different risk indicators. Readers are also treated to an arsenal of online investigation tools, while the last chapter goes into depth concerning the hot topics of aggregation and transaction laundering, encompassing some very complex and difficult to detect fraud scenarios.
The cooperation enables a new level of B2B customer due diligence by allowing for the identification of directors or beneficial owners online.
Leipzig, July 06, 2016
This year has been groundbreaking for our company so far. During the course of a few months, Web Shield built has built up a comprehensive risk-based due diligence suite: With SENTINEL website on-boarding, GEiDD corporate due diligence and PULSE adaptable monitoring, underwriting for the B2B market has finally taken center stage in our service portfolio. This renewed focus has made some internal restructuring necessary. This is why we have decided to discontinue our online legitimation service KYC Shield as of October this year.
Nonetheless, we will not simply abandon the idea of identifying natural persons over the internet. Success is built on strong partnerships, and with IDnow we now have Europe’s leading provider of video identification and electronic signature solutions supporting our efforts.
IDnow’s innovative services will not only provide a seamless transition for our current KYC Shield clients, they will also power our B2B on-boarding and investigation tools like the Global Entity Due Diligence Report. As a result, our customers will soon be able to identify relevant actors (e.g. directors or beneficial owners) through IDnow Video-Ident, sign online contracts with IDnow eSign in under 5 minutes, screen relevant actors against over 1.300 sanctions and PEP lists as well as comprehensively underwrite merchant applications through a GEiDD Report, including a corporate document review and the identification of relevant actors.
Michael Sittek, Managing Director of IDnow welcomes Web Shield’s customers: “We are looking forward to partnering with Web Shield, Europe’s leading fraud protection provider. Through focusing on both our key competences, we can help to provide customers with a unique product that exceeds the high standards demanded of due diligence assessments.”
Web Shield CEO Christian Chmiel is stressing the natural fit of the partnership: “As we ourselves are encouraging outsourcing, collaborating with IDnow to deliver the best possible results for our customers was a no-brainer. It opens up exciting new opportunities for both companies in the emerging market of technological solutions for risk management and regulatory compliance.”
IDnow is Europe’s leading provider of identification and eSigning solutions. The Munich-based company develops and distributes secure solutions for the electronic identification of natural persons as well as contract signing via computer or smartphone. Their customer base includes direct banks, modern branch banks, financial services provider, credit card issuer, municipalities and health insurance schemes. Commerzbank, UBS and Number26 are just a few of their notable clients. IDnow was founded in 2014 by Jet A, the company builder of the amiado founders.
For more information about IDnow visit their website www.idnow.eu.
This year affords a lot of opportunities to meet us all over the globe. We will be attending at least 13 card, FinTech, banking and payments conferences in 2016!
On many of this occasion, you will also hear from our CEO, Christian Chmiel, who will speak at the Payment World in Düsseldorf, the MPE in Berlin, the European Payment Summit in Brussels and the CNP Expo in London about the risks and opportunities of international merchant acceptance and emerging cybercrime trends.
Let’s give you an overview:
If you are in the area, make sure to visit us. We are looking forward to meeting you!
International guests from all over the world arrived on Friday, October 16th in Leipzig to witness the official Web Shield Headquarters Opening. Many came straight from Berlin, where the weeklong MasterCard Global Risk Leadership Conference had just ended and they already had the opportunity to meet Web Shield’s CEO Christian Chmiel.
The festivities started in the Web Shield Offices at Nordstraße 1 with a friendly meet-and-greet. Finally, customers and staff had the opportunity to put a face to the names that usually just appeared in email signatures. After a warm welcome, CEO Christian Chmiel held his opening address in the nearby Westin Hotel. In his speech, he looked back at the big and small steps which made Web Shield into the success it is today. But he didn’t linger in the past very long: He also unveiled the Global Merchant Acceptance Suite – GMAS in short – which represents the future of Web Shield. As a global entity database based on open source information, surrounded by hundreds of APIs and connected to dozens of search engines, credit bureaus, sanction lists, background research tools and more, it represents a revolution in the field of due diligence: GMAS speeds up the boarding process, delivers an in-depth investigation of all relevant merchant details and provides easy to understand recommendations – all in one report. “With GMAS”, Chmiel explained, “we created a tool that allows our clients to identify criminal organizations on a global scale before they can wreak financial or reputational havoc – and all that without the need to learn any complicated software.”
Michael Burtscher, Executive Board Advisor at Web Shield followed up with an overview of the newest developments in the payment processing landscape. He emphasized the risks, but also the opportunities afforded to the industry in the future. “Because of a new regulatory environment and more sophisticated criminals, it has become essential to implement a risk based approach. Tools like GMAS are a big help in this respect.”
The last speech was held by Jeffrey De Petro, Business Leader of Franchise Development and Customer Performance Integrity at MasterCard International. He presented current problematic trends, like the worldwide resurgence of synthetic drugs and how the use of a MasterCard Merchant Monitoring Provider like Web Shield can counteract this developments by identifying hidden criminal merchants.
A panel discussion about the unsung heroes of the underwriting profession concluded the formal part of the evening. Five veterans of the trade told their stories about how they prevented their organisation from doing business with fraudulent actors – and in the process not producing headlines of massive fraud losses.
The social program of the evening consisted of culinary highlights straight out of the excellent Westin kitchen as well as the cartoonist Jörg “Phono” Steinhof, whose imaginative portrayal of the guests drew some well-deserved laughs. After dinner the festivities were moved into the 27th floor of the Westin. In the Falco Bar, high above the rooftops of Leipzig everyone mingled, clinked cocktail glasses and shared their experiences – it was a successful evening for everyone.
Web Shield Ltd. is a young company which incorporated in December 2011 in London. It specializes in anti-fraud, due diligence and compliance support for acquiring banks, PSPs and IPSPs. The company is headquartered in Leipzig, Germany and is currently employing more than 30 specialists in various locations. Thanks to their newest product, the Global Merchant Acceptance Suite, they are currently expanding into new markets.
Starting on July 1st, 2015 all Principal Members of MasterCard can register Web Shield Limited as an official ‘Merchant Monitoring Service Provider’ (MMSP) in the Merchant Monitoring Program (MMP). During your participation in the MMP of the BRAM Program, MasterCard may grant some mitigation on assessments for a BRAM and/or Merchant Transaction Laundering violation resulting from conduct of a particular merchant, provided MasterCard determines that all criteria that are outlined in the “Merchant Monitoring Program Registration” are met (available to Principal Members only).
In this context you may choose to register Web Shield for
a) BRAM Monitoring, and/or
b) Transaction Laundering Detection.
The ‘BRAM Monitoring’ refers to the MONITOR solution (included in SHIELD & MONITOR) that we are providing. The “Transaction Laundering Detection” refers to our new product release “Transaction Laundering Screen” that is featured below.
The MMP requires the Principal Member to provide MasterCard with a monthly report of all merchants and URLs monitored, which must include all identifications and resolutions for any merchant monitored and submitted by either the MMSP with a copy to the acquirer or directly from the acquirer. If you would like Web Shield to report the results directly to MasterCard, please provide us the below details:
Customer (Acquirer) Name:
Customer ID/ICA Number:
All details can be sent directly to email@example.com. If you require a prefilled “Merchant Monitoring Program Registration” document or if you need any kind of assistance during the registration process, please get in touch with us directly.
Transaction Laundering Screen
The Transaction Laundering Screen (TLS) is a feature for the prevention and detection of transaction laundering (or transaction cleansing). Details about this attack type will be provided in the upcoming TLS product sheet. It contains in total three different tools and services.
a) Transaction Laundering Shield
The ‘Transaction Laundering Shield’ is a due diligence tool that can be used e. g. by affiliate networks to conduct a full screening on their affiliates. This includes the cross-check of internal blacklists, full background screenings, affiliate website screening and also the full identification (including passport verification) of the affiliate.
b) Transaction Laundering Screen
The ‘Transaction Laundering Screen’ is a live screening solution that can be implemented on a payment page (or a hosted payment page). It requires the implementation of a script that sends specific, e.g. website user referral URL, associated Affiliate information, etc.) about the website user to the Web Shield System. The system then automtically screens the referral link for content violations and returns the information in less than a second back to the system. In addition the system can also be used to blacklist and whitelist certain URLs.
c) Payment System Protection Program
The Transaction Laundering Screen also contains access to the PSPP (more details on http://webshieldltd.com/payment-system-protection-program/).
Web Shield Limited
207 Regent Street, Third Floor
W1B 3HH London
Phone: +49 (0) 3412 1979389
(Mo-Tue, 10-15 / Fr 10-12 CET)
Fax: +49 (0) 3212 1322383
ONPEX, The Online Payment Exchange has today announced a strategic collaboration with online crime prevention specialist Web Shield.
The deal provides ONPEX’s acquirer, PSP, ISO and merchant client base with Web Shield’s sophisticated risk management tools.
A mass of fraudulent transactions are attempted every day worldwide, with the burden placed on bank acquirers and PSPs, who bear the ever-increasing costs due to card scheme fines or the loss of merchant accounts. Monitoring merchants’ web content effectively has become a difficult and time-consuming task. Web Shield’s services return full control to PSPs, ISOs and acquirers and provide them with efficient management.
‘Web Shield increases and improves protection against online crime and enables payment providers to attain control over the required risk assessment while reducing the associated merchant screening and monitoring workload by around 90%.
During the on-boarding process for a merchant Web Shield provides a pre-scanning of websites to simplify the process. Web Shield also provides an early warning system for clients against merchant account aggregation and offers a persistent monitoring of boarded merchants to track any alterations on their websites.
Speaking of the partnership, Christoph Tutsch, Founder and CEO of ONPEX commented: “Adding value to our payment platform users is a principle focus at ONPEX and security is top of the list. Online crime costs merchants and payments providers billions per year globally so must be taken seriously. For us, it is imperative that we make sure that our platform and all those utilizing it are doing so safely. Web Shield is a big part of our safety efforts and we are delighted to be able to offer its services to our clients.”
Christian Chmiel, CEO of Web Shield, commented: “We are very glad to have a partner of ONPEX’s caliber and vision. Protecting acquirers, PSPs, ISOs and merchants from online crime is key, and this partnership will enhance our possibilities to support ONPEX‘s clients in this area.”
ONPEX is a global, white-label cloud payment solution combining card processing and alternative payment methods on one unified, omni-channel platform. ONPEX solutions accelerate international expansion and the development of ISOs, PSPs, banks and developers and offer the flexibility they need to grow globally in the payment business. The ONPEX Acquiring Network simplifies the complexity of international electronic payments offering access to merchant accounts and acceptance agreements globally. For more information about ONPEX, please visit www.onpex.com.
Compliance is hard, but with InvestiGate, it becomes easier than ever before. As an on-boarding hub that gathers all risk intelligence in one place, it helps you evaluate a merchant’s […]
Mastercard Clarifies their Rules: Member Areas Have to Be Screened Screening for website content that is forbidden per credit card association rules has always been the most basic building block […]