FRAUD
21
“ Money Mules,” Federal Bureau of Investigation, https:// www. fbi. gov / how-we-can-help-you / scams-andsafety / common-frauds-and-scams / money-mules; Jim Axelrod, Sheena Samu, Andy Best, et al.,“ Romance scammers turn victims into‘ money mules,’ creating a legal minefield for investigators,” CBS News, April 23, 2024, https:// www. cbsnews. com / news / romance-scams-victims-money-mules /
22
Jim Axelrod, Sheena Samu, Andy Best, et al.,“ Romance scammers turn victims into‘ money mules,’ creating a legal minefield for investigators,” CBS News, April 23, 2024, https:// www. cbsnews. com / news / romance-scams-victims-money-mules /
23
“ Chargeback fraud 101: What businesses need to know,” Stripe, February 14, 2025, https:// stripe. com / resources / more / chargeback-fraud-101
24
“ Online Dating Industry Merchant Accounts,” First Card Payments, https:// www. firstcardpayments. com / high-risk-merchant-accounts / online-dating-industry-merchant-account /
25
Jereme Sanborn,“ Online dating services: What it means to be a high-risk merchant,” Humboldt, https:// www. hbms. com / blog / online-dating-services-what-it-means-to-be-a-high-risk-merchant #:~: text = Why % 20 are % 20dating % 20services % 20considered, services % 20category % 20from % 20the % 20start
26
“ Zoosk Live,” Zoosk, https:// help. zoosk. com / hc / en-us / articles / 4402057167250-Zoosk-Live
27
Ibid.
28
“ FinCEN Reminds Financial Institutions to Remain Vigilant Regarding Potential Relationship Investment Scams,” Financial Crimes Enforcement Network, February 26, 2025, https:// www. fincen. gov / news / news-releases / fincen-reminds-financial-institutions-remain-vigilant-regarding-potential
29
“ Cryptocurrency Investment Fraud,” Federal Bureau of Investigation, https:// www. fbi. gov / how-we-canhelp-you / victim-services / national-crimes-and-victim-resources / cryptocurrency-investment-fraud;“ Romance Scams,” Federal Bureau of Investigation, https:// www. fbi. gov / how-we-can-help-you / scams-and-safety / common-frauds-and-scams / romance-scams
30
“ Online Dating Service Agrees to Stop Deceptive Use of Fake Profiles,” Federal Trade Commission, October 29, 2014, https:// www. ftc. gov / news-events / news / press-releases / 2014 / 10 / online-dating-service-agreesstop-deceptive-use-fake-profiles;“ Federal Trade Commission v. Match Group, Inc.,” Court Listener by Free Law, https:// www. courtlistener. com / opinion / 9395880 / federal-trade-commission-v-match-group-inc /
31
Jim Axelrod, Sheena Samu, Andy Best, et al.,“ Romance scammers turn victims into‘ money mules,’ creating a legal minefield for investigators,” CBS News, April 23, 2024, https:// www. cbsnews. com / news / romance-scams-victims-money-mules /
32
“ S. 841 ― Romance Scam Prevention Act,” Congress. gov, https:// www. congress. gov / bill / 119th-congress / senate-bill / 841 #:~: text = This % 20bill % 20requires % 20online % 20dating, banned % 20user % 20of % 20the % 20service
33
“‘ Dating or Defrauding?’ a Joint Effort to Alert Online Daters, Social Media Users of Relationship Investment Scams,” Commodity Futures Trading Commission, February 10, 2025, https:// www. cftc. gov / PressRoom / PressReleases / 9052-25
34
Other key areas may include jurisdictions, ownership structure and organizational charts, legal opinions, licensure and registrations, nature of the relationship, expected transaction volume and types, sources of revenue and even references.
35
Note, this is not an exhaustive list of key areas and are merely suggestions.
36
A tiered approach to onboarding typically involves tailoring onboarding requirements based upon the risks presented by the client. Regarding conditional onboarding, some restrictions can include caps on volumes, frequent period reviews or delayed settlements, to name a few.
37
“ Customer Advisory: Six Warning Signs of Online Financial Romance Frauds,” Commodity Futures Trading Commission, https:// www. cftc. gov / LearnAndProtect / AdvisoriesAndArticles / RomanceScam. html
38
“ What to Know About Romance Scams,” Federal Trade Commission, https:// consumer. ftc. gov / articles / what-know-about-romance-scams
39
“ Detect Fraud and Cyber Threats With Unmatched Accuracy,” IPQS, https:// www. ipqualityscore. com /;“ Who is Spamhaus Project?,” Spamhaus Project, https:// www. spamhaus. org / who-is-spamhaus /
40
“‘ Dating or Defrauding?’ a Joint Effort to Alert Online Daters, Social Media Users of Relationship Investment Scams,” Commodity Futures Trading Commission, February 10, 2025, https:// www. cftc. gov / PressRoom / PressReleases / 9052-25
56 acamstoday. org