Two credit card payment processors have been ordered to pay fines and to steer clear of high-risk merchants for allegedly processing more than $130 million in payments for bogus companies that scammed the public, the U.S. Federal Trade Commission (FTC) announced.
Nuvei Corporation, based in Canada, and its numerous subsidiaries will pay $4.85 million for doing business with merchants it knew or should have known were engaged in scams that defrauded the public of millions of dollars, the FTC said in a press release Sept. 4.
