Organizations issuing prepaid (stored-value) cards, allowing customers to load funds and use the card for payments or withdrawals. These issuers typically manage card balances, enable reloading, and facilitate transactions through established payment networks.
Main/
Prepaid Card Issuer
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Code
AT0027
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Name
Prepaid Card Issuer
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Version
1.0
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Category
Financial Institutions & Service Providers
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Created
2025-03-12
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Modified
2025-04-02
Related Techniques
They issue reloadable cards that criminals can exploit for layering. Minimal or non-existent verification requirements allow illicit entities to move funds anonymously, complicating financial institutions' efforts to track and block suspicious transactions.
Prepaid card issuers operating within or servicing high-risk jurisdictions may inadvertently enable illicit actors to load and redeem funds with minimal verification. This setup conceals the origin of proceeds and complicates transaction monitoring for financial institutions investigating cross-border card usage.
Prepaid card issuers are exploited when:
- Criminals load illicit proceeds onto prepaid cards in manageable increments.
- These cards are then used to deposit funds into online gambling accounts under the guise of normal gaming transactions.
Financial institutions struggle to trace inflows from prepaid cards, leading to difficulties linking withdrawals back to criminal origins.