Latest news with #merchantRisk
Finextra
25-06-2025
- Business
- Finextra
Wordline shares tumble over media allegations of fraud cover up
Worldline shares plunged by 20% after multiple media outlets alleged that the French payments processor covered up client fraud to protect revenue 0 The "Dirty Payments" investigation, which was led by the European journalism network EIC and 21 media outlets said it based its reports on confidential internal documents and data from Worldline, alleged the company accepted "questionable" clients across Europe, including pornography, gambling and dating sites. Responding to the reports, Worldline said in a statement that since 2023 it has strengthened merchant risk controls and terminated non-compliant client relationships. The company said it has conducted a "thorough review" of its high-brand-risk portfolio, such as online casinos, stockbroking and adult dating services, since 2023, affecting merchants representing 130 million euros in run-rate revenue in 2024. It added that it maintains "zero-tolerance" for non-compliance and engages regularly with regulatory authorities.
Yahoo
25-06-2025
- Business
- Yahoo
Worldline response to EIC
Worldline Group press release following the publication of articles by the European journalism network EIC - 25 June 2025 Worldline operates in a demanding and constantly evolving regulatory environment, especially the one related to HBR (High Brand Risk) sectors, such as online casinos, online stockbrocking or adult dating services. Since 2023, the Group has strengthened its merchant risk framework to ensure full compliance with laws and regulations, conducted a thorough review of its HBR portfolio— which currently accounts for approximately 1.5% of its acquired volumes — and has terminated commercial relationships deemed non-compliant with its strengthened merchant risk framework. As indicated in previous financial communications, these decisions affected merchants representing €130 million run rate revenue in 2024. As an indication, according to the latest international schemes reports, Worldline's fraud ratio is below the industry average. All HBR clients still active within this portfolio are now subject to enhanced oversight, based on specific procedures. Additional requirements in terms of controls, verifications and evidence documentation have been introduced to ensure ongoing alignment with regulatory obligations and our enhanced internal standards. Worldline has progressively ramped up its first and second-line resources to implement the enhanced requirements as part of the ongoing Group-wide Financial Crime Compliance (FCC) strategy to pursue reinforcement of supervision and controls with regular engagement with the relevant regulatory authorities. Wherever the Group identifies indications of non-compliant situations, additional checks are immediately undertaken, potentially leading to termination of the client relationship. Worldline's Executive Management and Board of Directors are fully committed to strict compliance with regulation and risk prevention standards and to strictly enforce related rules and procedures with zero-tolerance. Attachment Worldline response to EIC_June25
