Web Shield Headquarters Opening – The Future of Due Diligence
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.
InvestiGate Empowers Your Risk Team
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 […]
Web Shield DeepScreen released
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 […]
Web Shield Academy
- Certified High-Risk Underwriter (WSA) in Dublin
- 07. Sep 2017 - 08. Sep 2017
- ADVANCED High-Risk Underwriter (WSA) in Warsaw, Poland
- 26. Oct 2017 - 27. Oct 2017