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Introducing a new service to block merchants that are linked to mule activity: Strengthening Banking and Financial Crime Prevention

Preventing fraudulent activities is a constant concern for banks, as they continue to discover more merchant locations involved in illegal activities like money muling.

Line Snefrid Borgsø / December 08, 2023

In the evolving landscape of banking and finance, preventing fraudulent activities remains a constant challenge for organizations. Banks face the ever-present threat of merchants involved in illegal activities such as money muling.

To combat this threat, Tietoevry Banking’s Financial Crime Prevention unit is proud to unveil its latest innovation - the Blocking of Rogue Merchants (BORM) filter. The BORM filters represent a cutting-edge service that aims to reduce fraudulent activities by blocking card transactions to suspicious merchant locations. It is a proactive measure implemented to safeguard the interests of both the banks and their clients. By preventing transactions from taking place at these suspect merchant locations, the risk of financial losses and potential harm to cardholders is significantly reduced.

Tietoevry Banking takes a collaborative approach to ensure the effectiveness of the BORM filters. Banks across the industry are encouraged to report any suspicious merchant locations they encounter. This information serves as valuable input for Financial Crime Prevention expert analysts, who then analyze and update the filters used by subscribing banks. It is through this shared intelligence that the BORM filters stand strong against the ever-evolving tactics employed by fraudulent merchants.

Tietoevry Banking's track record in developing similar filters is highly acclaimed. The extensive expertise and experience of the company extends beyond combating money muling to tackling investment fraud and identifying transactions that could potentially result in significant losses for the banks and their cardholders. With a comprehensive solution in place, we guarantee secure and reliable card transactions for all our clients.

In conclusion, the introduction of this new filter to block merchants that are linked to mule activity marks a significant milestone in the fight against fraudulent activities in the banking industry. By leveraging the power of advanced analysis and collaboration, Tietoevry ensures that banks and their clients are protected from the risks posed by rogue merchants.

Line Snefrid Borgsø
Product Manager, Financial Crime Prevention


Line Snefrid Borgsø

Product Manager, Financial Crime Prevention

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