With the rapid development of cross-border e-commerce payment settlement business, Harbin Bank signed the Transaction Laundering Detection (TLD) Service Agreement with Austreme to prevent unauthorized merchants from using registered merchant accounts to submit transactions and expand the Bank’s capability in detecting and monitoring the laundering merchant sites.
The TLD Service is used to control and manage the risk in handling cross-border payment transactions. It serves as an effective means to minimize the risk of breaching Visa GBPP (Global Brand Protection Program), MasterCard BRAM (Business Risk Assessment & Mitigation) and shared merchant accounts for submitting transactions.
Under the Agreement, Austreme will provide 3 years of TLD Service to Harbin Bank. The Service helps the Bank to monitor registered merchant websites and transactions. It also helps detecting the shared accounts of registered merchants and unauthorized merchants to process card payments of illegal or brand-damaging IP infringement related transactions and monitoring the transaction of online stores. As the approved MasterCard Merchant Monitoring Service Provider (MMSP), Austreme makes use of big data and its proprietary investigation technologies to find out the illegal merchant transactions and activities arising from unauthorized shared merchant accounts effectively. It fills the gap of manual investigation of merchant transaction activities. It can also quickly identify the hidden merchant business relationships that manual investigation cannot perform.
By using TLD service and Transaction Laundering Report provided by Austreme, Harbin Bank is able to investigate the content and the transaction legitimacy of merchants connected to its payment network. The Bank can also reduce the monitoring time and take immediate actions and measures to deal with risk issues of merchants. The TLD Services helps further standardizing Harbin Bank’s cross-border e-commerce payment and settlement business.