The FTC's Humboldt Merchant Services case is a warning for processors, PayFacs, ISVs, and platforms that MATCH checks and chargeback thresholds only matter if someone acts on the signals.

The FTC's proposed $4.85 million Nuvei settlement is a reminder that payment processors, PayFacs, and platforms need merchant screening and monitoring that continues long after onboarding.

Kitty and Jason sit down with Allen Kopelman of Nationwide Payment Systems to discuss complex merchant onboarding, flow-of-funds explanations, synthetic identity fraud, underwriting context, and why legitimate businesses can look risky when the operating model is not clearly explained.