Silk Road Mentor Being Extradited To US

Five years after Silk Road shut down, one of its alleged advisers is being extradited to the U.S. to face newly unsealed charges for his role in the operation.

According to The Verge, Roger Clark was the alleged mentor, adviser and confidant to Silk Road’s founder, Ross Ulbricht.

Silk Road was dubbed the “Amazon of illegal narcotics,” and Ulbricht built a $1.2 billion empire selling heroin, cocaine and crystal meth online. He outdid himself, however, in terms of pleasing his customers, going so far as to brazenly offer buyer ratings and money-back guarantees.

In October 2013, the marketplace was shut down by the FBI, and Ulbricht was apprehended, arrested and given a sentence of life in prison without parole.

Last week, the U.S. Attorney’s office released an indictment against Clark (also known as “Variety Jones,” “VJ,” and “Cimon”), alleging he was a “real mentor” to Ulbricht over the course of the site’s operation. In addition, authorities claim that Clark ran much of the back end of Silk Road; his activities included hiring programmers to maintain and speed up the site, maintaining and creating rules for the Silk Road community to inform Ulbricht about the site’s security vulnerabilities, and collecting information on local law enforcement’s efforts to stop the site, among other things.

Clark is also charged with a number of conspiratorial charges, including narcotics trafficking and money laundering. If he is convicted, he faces 10 years to life in prison.

Clark was arrested and detained by Thai police nearly three years ago. During an interview in 2016, he bragged that the Thai police only seized his closed and encrypted laptops, and they could spend decades trying to access those hard drives; without that data, law enforcement has no hard evidence of his crimes.

“They don’t have s–t on me,” he said at the time. “I’m not going [to the U.S.]. It’s an impossible circumstance.”

This Week in B2B: Standards, Regulations and Next-Gen Back Offices

The intersection of technology, leadership and regulation is reshaping B2B in profound ways.

CFOs are stepping into more strategic roles, leveraging advanced tools to drive transformation. Meanwhile, technological integration is streamlining operations across sectors, from construction to travel.

Most crucially, B2B payments continue to evolve with the need for speed and efficiency, while regulations aim to create a more transparent and interconnected financial system.

For those firms able to identify the trends, 2025 is sure to be a pivotal year.

Read more: The Five Not-So-Obvious Things That Will Change the Digital Economy in 2025

Integrating Technology

Digital advancements are reshaping business operations, particularly in back-office functions. PYMNTS covered how artificial intelligence (AI) has emerged as a critical tool for addressing bottlenecks, automating processes, and improving decision-making. Companies are investing in AI solutions to streamline tasks like accounts payable and receivable, data analysis and forecasting.

On Tuesday (Jan. 7), Fazeshift, an accounts receivable-focused AI agent, announced it had raised $4 million in seed funding.

In the construction sector, platforms like Knowify are integrating with tools like Intuit’s Enterprise Suite to offer solutions for project management and financial oversight. This integration demonstrates how technology can bridge the gap between operational and financial functions.

The travel industry is also benefiting from technology. Visa’s partnership with Qashio to develop B2B travel payment solutions, announced Monday (Jan. 6) illustrates how digital tools can enhance spend management, offering businesses greater control and visibility over travel expenses. Virtual cards and advanced expense management tools are becoming essential in a world where business travel is rebounding.

Advancements in B2B Payments

We covered here how real-time data and payment solutions are transforming liquidity management, allowing businesses to optimize cash flow and reduce risk. This shift is evident in the rise of virtual cards, which offer suppliers and buyers streamlined payment with enhanced security features.

Suppliers are playing a crucial role in driving virtual card acceptance, recognizing the benefits of faster payments and reduced administrative burdens. Payarc’s collaboration with AllPack Fulfillment, announced Tuesday (Jan. 7) is a prime example of how partnerships can bolster payment processing, enabling businesses to meet the demands of commerce.

Real-time data is also becoming indispensable for financial decision-making, while real-time payments are shifting traditional dynamics.

Jim Colassano, senior vice president, RTP Business Product Management at The Clearing House, said the ability to send money instantly, 24/7/365, has been gaining wide embrace across a variety of use cases and business users. 

“The feedback that we get, not only from consumers, but also from the business community, is that when you see it,” he said of instant payments, “when you actually experience it, both from an origination standpoint and from a receiving standpoint, you want to do more, you want this to be the payment mechanism that you would like to use.”

As highlighted in a recent report, leveraging real-time insights can improve liquidity performance, allowing businesses to adapt to changing market conditions with agility and confidence.

CFOs and Back-Office Leadership

All these advancements are having an impact on senior leadership, too. The role of the CFO is no longer confined to managing financial reports and ensuring regulatory compliance.

PYMNTS looked into why CFOs are expected to act as strategic leaders, guiding their organizations through complex challenges. Apple’s CFO transition, for instance, highlights the shifting expectations placed on financial leaders. With Apple’s emphasis on technological innovation, the new CFO will need to integrate financial strategy with broader business objectives, ensuring the company’s continued dominance in a competitive market.

CFOs are also adopting new playbooks to meet their transformation goals. A recent report on CFO strategies underscores the importance of choosing the right approach — whether building internal capabilities, buying third-party solutions, or forming strategic partnerships. This flexibility allows businesses to adapt to evolving needs while leveraging technology.

Regulatory Developments

As cross-border commerce grows, so does the need for standardized financial systems. The Bank for International Settlements (BIS) has been at the forefront of promoting the adoption of ISO 20022, sharing on Tuesday the next steps it will take for the adoption of global messaging standard. ISO 20022 is designed to enhance the efficiency and interoperability of cross-border payments. This initiative is crucial for businesses operating in a globalized economy, where seamless transactions are essential.

Regulations are also addressing challenges in merchant onboarding and risk management. New beneficial ownership rules, for instance, aim to improve transparency and reduce fraud, though they pose hurdles for businesses navigating these requirements. As organizations adapt to these changes, they must strike a balance between compliance and efficiency.

In the EU, Thursday (Jan. 9) was the deadline for compliance with Europe’s Single Euro Payments Area (SEPA) instant payment framework requiring financial institutions and payment service providers to be capable of receiving instant payments. SEPA Instant doesn’t just affect payment timelines but could spur a paradigm shift in treasury operations, with operational upgrades that could also extend to ERP and financial management systems.