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

On: July 19, 2015

EverCompliant, a leading provider of cyber risk intelligence and pioneer of transaction laundering detection and prevention, has announced today the release of MerchantView 3.0, the third generation of transaction laundering detection and prevention.

transaction mule is a term used to distinguish a legitimate merchant from a merchant that is actively involved in funneling transactions from illegal or unreported origins. Transaction laundering takes place when a merchant processes payments and/or is involved in illegal, unreported activity on behalf of or through a legitimate merchant account. The term is used to distinguish illegal and unreported aggregation activity from the legitimate activity of reported and known aggregation. Both these terms were introduced by EverCompliant, a couple of years ago, when they noticed a monumental shift in online fraud activity from traditional consumer fraud towards merchant base fraud.

“We are excited about this new release,” said Ron Teicher CEO of EverCompliant. “This release serves as a prime example for our ongoing strive for disruptive innovation. A few years back, we introduced the multi-layer approach for transaction laundering detection as well as the MerchantView EcoSystem™. Today, we introduce MerchantView 3.0, the most thoroughly tested solution that combines years of experience and invaluable feedback from our partners, which include some of the world’s largest financial institutions.”

MerchantView 3.0 introduces the following features:

  • Transaction laundering enhancements offering industry-leading transaction laundering detection capabilities, yielding high quality results while minimizing false positives.
  • Automatic transaction laundering validation to provide concrete evidence of actual transactions laundering activity taking place.
  • Highly advanced cyber investigation techniques that are attuned to the latest criminal methods developed by experts who come out of one of the world’s most respected cyber intelligence organizations.
  • Timely turnaround via a convenient web-based MerchantView portal enabling acquirers and PSPs to onboard and monitor any number of merchants and detect instantly whether a merchant is involved in illegal online activity or fraud.
  • Comprehensive reporting and on-demand information, including violation reports with actionable recommendations to facilitate timely disposition of findings.

With MerchantView 3.0, acquirers and PSPs can continue to experience the following:

  • Dramatic reduction of undetected transaction laundering activity in their portfolio.
  • Dramatic drop in card brand violations and as a consequence, significant savings in assessment penalties.
  • Greater understanding and visibility of their merchants actual risk.
  • Prevention of brand damage as a result of being unwillingly facilitating illegal activity.
  • Significant reduction of costs associated with brand repair.

EverCompliant actively detects an unprecedented number of transaction laundering activities on a daily basis, saving its customers hundreds of thousands of dollars or more each year by preventing acquirers and PSPs assessment fines, brand damage and the associated costs. To learn more about transaction laundering visit evercompliant.com.

About EverCompliant

EverCompliant is a leading provider of cyber intelligence that allows acquiring banks and payment service providers (PSPs) to manage merchant-based fraud and cyber risk. Our focus is to provide a range of solutions that give acquires and PSPs the necessary relevant information to check their merchants during on boarding and later on an ongoing basis, while guiding them through the process of managing online risk, detecting hidden transaction tunnels and fraud detection.

EverCompliant is headquartered in Tel Aviv, Israel with offices in New York City and is partnered with ControlScan, its US operations and distribution partner based out of Atlanta, Georgia.

Learn more at: www.evercompliant.com

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