Gun laws favor the use of credit card codes as a way to cut suspicious sales

Arms of fire are seen at the Bobâs Little Sports Gun Store in Glassboro town, New Jersey, USA on May 26, 2022.

Tayfun Coskun | Anadolu Agency | beautiful pictures

Gun advocates are praising the decision to apply a new sales code to transactions at gun stores, a move they have encouraged to help flag suspicious transactions.

Last week, the International Organization for Standardization (ISO), the body that sets standards for payment transactions, approved a special merchant code for credit and debit card transactions in stores. guns in the US. Then at the end of the week, Passport, Master Cardand American Express indicates that they will start using the new code.

John Feinblatt, Everytown president of Gun Safety, said the move is an important first step towards giving banks and credit card companies the tools they need to recognize gun buying trends. dangerous – such as a domestic extremist building an arsenal – and report them to law enforcement.

The merchant category code indicates the types of services or goods sold to consumers. Previously, gun store sales were classified as “general merchandise”.

Attorney Generals of New York and California and Massachusetts Sens. Elizabeth Warren, D-Mass., and Ed Markey, D-Mass., are among the other notable figures who have supported the effort. In New York, dozens of lawmakers sent letters to leaders of major credit card companies, urging them to adopt the rule.

“When you buy airline tickets or pay for groceries, your credit card company has a special code for those retailers. Usually, we apply the same policies to other retailers. gun and ammunition stores”, New York City Mayor Eric Adams told the Associated Press last weekend.

In a statement, the National Rifle Association said the move “is nothing more than a surrender to anti-gun politicians and activists who want to erode the rights of law-abiding Americans.” transactions one by one.”

“This is not about tracking or preventing or any moral motive – it’s about creating a national registry of gun owners,” the statement said.

Mastercard says it will work to protect “all legitimate commerce” and “the privacy and discretion of individual cardholders” on its network. American Express and Visa, the world’s largest payment processor, also committed to implementing the new code.

“Following ISO’s decision to establish a new merchant category code, Visa will take the next steps, while ensuring we protect all legitimate commerce on the Visa network under its longstanding rules. us,” Visa said in a statement.

“These new trade codes will help banks and financial institutions track suspicious and potentially illegal gun purchases,” said a statement from Shannon Watts, founder of Moms Demand Action, the organization. advocate for public measures that can protect people from gun violence.

Amalgamated Bank and the teachers pension fund of California are also among those who have lobbied hard for the new law.

In one Press Release Friday, Priscilla Sims Brown, president and CEO of Amalgamated Bank, said the code “will enable us to fully comply with our obligations to report suspicious activity and illegal gun sales to the government.” rights without preventing or hindering the legal sale of firearms.”

Walmart and Dick’s Sporting Goods, both of which allow the sale of firearms in some US stores, did not respond to requests for comment Monday.

Source link


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button