Learn what’s new
at EverCompliant.

Learn what’s new
at EverCompliant.

PRESS RELEASES

EverCompliant Expands Asia Pacific Operations with New Office in Shanghai

On: May 23, 2017

New office will support Asian Pacific payment industry customers with leading transaction laundering prevention and detection solution  

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EverCompliant Raises $9.5 Million Series A to Continue Preventing Transaction Laundering

On: December 14, 2016

Funding, led by Arbor Ventures and including existing investors, will help spearhead expansion of cyber intelligence company

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EverCompliant Becomes First Solution Capable of Detecting Transaction Laundering On Mobile Applications

On: April 06, 2016

By revealing hidden unreported mobile applications, URLs and payment environments, EverCompliant helps its customers ensure that merchants are operating in a lawful and compliant manner when processing transactions on mobile apps

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With Online Transaction Laundering Cases Increasing Globally, EverCompliant Reports 500% Contract Value Growth in 2015

On: March 29, 2016

EverCompliant, the pioneer of Transaction Laundering Detection and Prevention systems, reported today that since the beginning of 2015, contract value growth for its Transaction Laundering Detection platform has grown 500%. EverCompliant technology is embedded in some of the largest financial institutions, including acquiring banks, payment service providers, and payment facilitators in North...

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EverCompliant Announces the Expansion of its Sales Team and the Opening of a U.S. Office

On: March 07, 2016

EverCompliant, the pioneer of Transaction Laundering Detection and Prevention systems, announced today the expansion of its U.S. sales team with the opening of a new office in New York City and the appointment of Daniel Klein as COO. As EverCompliant’s roster of customers has significantly grown over the last several months, the new office will...

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EverCompliant Enhances its Industry-Leading Transaction Laundering Detection Capabilities with the Release of Merchantview 3.0

On: July 19, 2015

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia

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EverCompliant Secures $3.5 Million in Funding Led by Carmel Ventures

On: May 27, 2015

Tel Aviv, IL– (May 27, 2015) – EverCompliant, a provider of cyber risk intelligence and merchant fraud detection solutions, announced today that it has raised $3.5 million in Series A financing, led by Carmel Ventures, Nyca Partners and existing EverCompliant investor Joey Low from Star Farm Ventures. The company will use...

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EverCompliant and ControlScan Team to Offer Brand Protection Monitoring

On: April 08, 2014

Advanced cyber technology helps acquirers monitor online content, identify MCC mismatches and detect hidden aggregated websites, protecting themselves from illegal and brand-damaging transactions. LAS VEGAS, Apr. 8, 2014 – TRANSACT 14: Powered by ETA, Booth #844 – Payment security compliance solution provider ControlScan announced today that it has partnered with...

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IN THE MEDIA

07Aug

Transaction Laundering Is The Digital Evolution of Money Laundering

On: August 07, 2017

This interview was originally posted on the goEmerchant Blog Ron Teicher is founder and CEO of EverCompliant, a cyber intelligence company, and leader in transaction laundering detection and prevention. Today, EverCompliant serves some of the world’s largest financial institutions and has been expanding its operations in Asia and the U.S.,...

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How massive is transaction laundering? Now we know …

On: June 23, 2017

Governments around the world have joined the battle against money laundering – passing laws that put an end to anonymous banking services and under-the-table money transfers and payments that enable crime and finance terror. It’s been on the agenda of governments for years. So how did they miss one...

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Exclusive: Fake online stores reveal gamblers’ shadow banking system

On: June 22, 2017

A network of dummy online stores offering household goods has been used as a front for internet gambling payments, a Reuters examination has found. The seven sites, operated out of Europe, purport to sell items including fabric, DVD cases, maps, gift wrap, mechanical tape, pin badges and flags. In fact,...

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How criminal merchants launder card payments

On: June 02, 2017

Visa and Mastercard have been fighting fraudulent merchants for decades. However, the problem has changed and worsened in recent years. Card transactions tied to ethically dubious sales tactics — purchases of goods and services cardholders ultimately say they never agreed to — have been the industry’s main fraudulent merchant...

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On the internet, nobody knows you’re a money launderer

On: May 14, 2017

In the past, criminals who wanted to hide the source of their cash would buy a car wash or nail salon. With fintech, the risks and costs of money laundering have gone down — which helps explain the rise of scams like binary options..  

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Online Criminals Are Tricking Entrepreneurs Into Doing Their Dirty Work

On: April 25, 2017

Cyber-crooks skillfully launder money through unwitting legitimate online storefronts, creating major legal liabilities for careless entrepreneurs.    

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Israeli cybersecurity company highlights potential of women in tech

On: March 27, 2017

Israeli cybersecurity company EverCompliant employs about twice as many women as the average tech company. Its secret? Choose the best candidate, said company founder and CEO Ron Teicher.  

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Why transaction laundering is turning into a huge financial blindspot

On: March 17, 2017

It is a startling statistic. Notably it suggests anti-money laundering (AML) and know-your-customer (KYC) regulations brought in post-crisis may have been entirely ineffective. And, of course, that criminals have an endless capacity to adapt.  

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PayThink Stealth new security threat requires protection for ‘low risk’ merchants

On: March 10, 2017

The terms ‘high-risk’ merchant or ‘high-risk’ MCC (Merchant Category Code), may grab your attention if you’re in the payment industry.  

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Israeli cybersecurity company highlights potential of women in tech

On: March 08, 2017

Israeli cybersecurity company EverCompliant employs about twice as many women as the average tech company. Its secret? Choose the best candidate, said company founder and CEO Ron Teicher.

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Pharma Transaction Laundering Deemed Money Laundering By Courts

On: February 08, 2017

A new form of online fraud called transaction laundering (TL) is infecting the medical, pharmaceutical, and financial payment infrastructures.  

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The New Fraud Migrating to Mobile; Transaction Laundering

On: January 19, 2017

Last year, mobile devices accounted for a third of the total payments on ecommerce retail sites during Thanksgiving and Black Friday sales, making it clear that more people than ever are doing their online shopping via their mobile device.    

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When Transaction Laundering Finances Terror

On: January 17, 2017

This month marks the second anniversary of the deadly attacks in Paris, when terrorists Said and Cherif Kouachi attacked the Charlie Hebdo satirical magazine on January 7, 2015 and when Amedy Coulibaly, a friend of the Kouachi brothers gunned down innocent grocery shoppers and held 15 others hostage in...

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Transaction laundering attracts more scrutiny as fraudsters dodge PCI

On: January 09, 2017

Fraudsters, aware of the scope of the Payment Card Industry data security standards, increasingly deploy fraud methods that fall outside of PCI safety.  

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Transaction Laundering 101: what banks and MSPs should know

On: January 04, 2017

Transaction laundering often masks activities explicitly prohibited by international law and card associations such as drugs and weapons trade, illicit pornography, sales of counterfeit goods, illegal pharmaceuticals, terrorism financing and money laundering.  

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EverCompliant Fights Transaction Laundering

On: December 28, 2016

Israel-based cyber-intelligence company EverCompliant is the first line of defense against transaction laundering, the digital payments space’s equivalent of traditional money laundering. In a nutshell, transaction laundering allows prohibited merchants to find safe passage into the payment system by exploiting valid merchant accounts.  

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The Hidden Dangers of Online Shopping

On: December 16, 2016

With the holiday season in full swing, credit card companies anticipate a significant increase in revenue from online shopping. In fact, this year alone retail e-commerce revenues are.  

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PayThink Left undetected, holiday ‘transaction laundering’ spikes hurt all year long

On: December 12, 2016

With consumers in a spending mood after a long and difficult election season, this year’s holiday buying crush is likely to be one of the best in decades, experts say.    

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The Road To Overcoming Data Overload

On: December 01, 2016

Due to the overwhelming number of emerchants and data associated with these merchants, MSPs are faced with data overload. Collecting data on merchants is not enough. They do not know what to do with it.

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How money laundering has gone digital

On: November 28, 2016

Evercompliant CEO Ron Teicher explains how criminals can now funnel illegally-obtained money through online payment systems.

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The Drug Dealer In Your Web Browser

On: November 10, 2016

Illicit dealings once isolated to the Dark Web are spilling out into the light.

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Transaction Laundering: Unreported Ecommerce On the Rise

On: November 07, 2016

Criminal activity, including fraud, is ancient. But there is a type of merchant-based, online fraud relatively new to the payments industry. Known as Transaction Laundering (TL), this form of fraud is spreading quickly, often undetected by Merchant Service Providers (MSPs), including payment processors and acquiring banks.

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19Sep

Traditional Risk Scoring is Dead

On: September 19, 2016

An entire industry – card payments acquiring and processing – relies its risk management methodology on chargebacks optimization as its main, if not sole, operational target. Simply put, the higher the likelihood for chargebacks for a given merchant category, the riskier the merchant will be considered by a credit...

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08Sep

Merchants Easily Fooled by Hijacked Epayments

On: September 08, 2016

Fraudsters are in general a nefarious bunch; as annoying as a mosquito, their bite does not discriminate against rich or poor, big or little. Last month, for example, Birkenstock pulled its entire collection from Amazon, mostly as a protest over the many merchants that were selling knockoffs of Birkenstock...

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07Sep

Following the Money Trail: The Anatomy of Transaction Laundering

On: September 07, 2016

With the recent escalation in online fraud attacks, merchant fraud, which has posed a longstanding risk to the payments system has evolved into a new category of fraud- transaction laundering, a security threat that is not only hard to detect but even more challenging to eliminate.

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30Jun

MARKETPLACES FACE NEW AND UNEXPECTED RISK THREATS – TRANSACTION LAUNDERERS

On: June 30, 2016

E-commerce sites may never completely replace Main Street stores, but online shopping is growing at a very healthy clip. In 2015, online shoppers in the US spent some $300 billion, and that figure is expected to grow to nearly $500 billion by 2018.

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06Jun

Protecting Banks in the Digital Age: The Rules Have Changed

On: June 06, 2016

While most people associate cybercriminals with hacking and security breaches, many of them have begun exploiting vulnerabilities in the e-commerce industry as well, using a new scheme called transaction laundering. By using transaction laundering, cybercriminals have found a way to bridge the gap between sellers of illicit (and often...

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24May

THE INTERNET CHANGED EVERYTHING

On: May 24, 2016

Credit and operational risks present in the physical world persist online, but the scale and clock-speed on risk exposure has increased. New risks have appeared, and notions around credit and chargeback risk, which have dominated acquirer risk thinking for decades, have undergone a fundamental re-set.

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21May

EverCompliant Interview

On: May 21, 2016

Acquirers and processors are processing anywhere from 6% up to even 10% more merchants than they are aware of. That means that in a merchant portfolio of 100,000 one should expect to see up to 10,000 unknown merchants that transact through their known clients, i.e. cases of transaction laundering....

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16May

Transaction Laundering Is the New Face of Payment Fraud

On: May 16, 2016

Transaction laundering is an increasingly popular scam, in which cyber-criminals hijack the legitimate payment process to sell all manner of illicit goods and services online.

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04May

Authentication/security technology news in brief

On: May 04, 2016

A round-up of developments from Systech, AuthenticVision, eAgile, Nanotech Security Corp and EverCompliant.

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