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NewsBriefs

And law enforcement agencies are coordinating efforts to capture the crimi- formation that had been previously
nals bent on profiting through cyber-crime. submitted by eMerchant, payment
and logistic companies. The house
The Merchant Risk Council recently reported that 26 countries participated searches led to the seizures of high-
in eCommerce Action 2017 (eComm 2017). The Europol European Cybercrime value goods, including electronic
Centre (EC3) coordinated this second annual coordinated action, which ap- appliances, smartphones, tablets,
prehended 73 fraudsters and members of Internet-based criminal networks for watches and clothing. The joint anal-
alleged online fraud activities. Suspects "were responsible for more than 20,000 ysis method revealed criminal hot
fraudulent transactions with compromised credit cards, an estimated value ex- spots and organised criminal groups
ceeding EUR 5 million," the EC3 stated. "Hundreds of packages from online that attempted to bypass the various
shops were intercepted and more than 100 locations were searched, using in- security measures of merchants and
financial institutions."

Flywire, PayPal cross
new borders

On June 26, 2017, payment platform
provider Flywire Corp. revealed
it had added PayPal to its menu of
payment options in Canada, the
European Union, the United King-
dom and the United States. PayPal
Inc. and Flywire representatives
said the integration will combine
PayPal's popular, secure technology
with Flywire's expertise in tailored,
international currencies and vertical
industries.

Boston-based Flywire also has offic-
es in the United Kingdom, China, Ja-
pan, Singapore, Australia and Spain.
The company said it is committed
to serving the needs of the global
citizen, which includes addressing
new types of transactions and pay-
ment corridors, while continuing to
improve the speed, transparency,
efficiency, choice and security of its
payment services.

In an interview with The Green Sheet,
Flywire Chief Executive Officer
Mike Massaro said the partnership
will additionally address a growing
need for cross-border payment di-
versification. "PayPal is an industry
leader in cross-border payments and
e-wallet and is looking for different
use cases," he said. "Cross-border re-
mittances have evolved from work-
ers in developed countries sending
money home to less developed na-
tions. … Our job is to enable institu-
tions to easily accept payments and
payers to easily transact."

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