Sign in
Stories
BlueSnap Settlement: Compliance and Consequences
Share
Assertio Holdings Faces Securities Law I...
Biopharma Companies Announce Public Offe...
Class Action Lawsuits Filed Against Apel...
Assertio Faces Lawsuit Amid Stock Declin...
Assertio Holdings Faces Securities Lawsu...
Assertio Lawsuit Amid Generic Drug Appro...
Overview
API
The FTC reached a settlement with BlueSnap and its ex-CEO and VP, involving a $10 million payment and cessation of processing payments for specific entities due to allegations of aiding fraudulent operations. BlueSnap's current CEO acknowledged past mistakes, emphasized internal reforms, and enhanced compliance post-investigation.
Ask a question
Could the regulatory actions against BlueSnap set a precedent for holding other fintech firms accountable for facilitating fraudulent activities?
How might this settlement influence the due diligence processes of other payment processing companies?
What specific compliance measures did BlueSnap implement post-settlement to prevent future violations?
Article Frequency
0.2
0.4
0.6
0.8
1.0
Feb 2024
Mar 2024
Apr 2024
Coverage