Payment Processor Nuvei Must Implement Robust Merchant Screening Practices and Pay $4.85 Million to Settle FTC Charges that the Firm Facilitated Merchant Fraud

Nuvei and its subsidiaries alleged to have knowingly processed for merchants engaged in fraudulent activity Global payment processor Nuvei will pay $4.85 million to settle the Federal Trade Commission’s charges that the firm opened and maintained payment processing accounts for merchants that it knew or should have known were engaged in deception, including tech support scams that took millions of dollars from consumers. View Press Release

• Official document

FTC enforcement signal — review whether similar practices appear in client portfolios and update risk narratives.

• Supporting source