On February 21, 2020, Len Gordon was quoted in VIXIO PaymentsCompliance on how U.S. high-risk merchants look to Europe for payment services.
According to the article, overseas payment providers that plead ignorance of scams perpetrated by their merchants will not get a free pass from the U.S. Federal Trade Commission (FTC), a top official from the regulator has said.
A crackdown on U.S. payment processors facilitating fraud or other consumer harms under the Obama administration spooked local providers, pushing scammers to look across the Atlantic for payment services, according to Gordon.
"As a result of enforcement activity here, a lot of merchants in what are considered `high-risk' verticals have been exploring the possibility of obtaining processing overseas," said Gordon.
Gordon, who is acting for a payment processor facing an FTC suit, said that many of the payment service providers are located in the UK and central and eastern Europe.