News

Belgium Flags Illicit Third-Party Payments

Gabriel Vedrenne
Senior Reporter

Criminals are increasingly using third-party payments in the legal economy to move and launder their profits, Belgium's financial intelligence unit CTIF has warned. Historically speaking, third-party payments, or TPPs, which entail an individual or entity other than the buyer wiring funds to the seller on his or her behalf, or a heretofore uninvolved, unknown company covering the cost of the direct customer's invoice, have been viewed as vulnerable to fraudsters and money launderers. But TPPs have multiplied and in some ways evolved into a normal, run-of-the-mill occurrence amid the rise of Amazon, eBay, Etsy and other e-commerce platforms, and parallel...

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