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 America, Europe and Asia.
EverCompliant enables banks, payment service providers and payments facilitators to significantly reduce fraudulent payments processed for illicit purposes through legitimate merchants. The Company protects them from hefty fines, chargebacks and damage to their reputation caused by unwittingly facilitating money laundering and other criminal activity.
“Our growth statistics for 2015 are really a testament to the disruptive nature of our technology and our ability to answer an unmet need in the market,” said Ron Teicher, CEO of EverCompliant. “Until very recently, banks had been unaware that merchants use the industry’s traditional infrastructure against them to conduct fraudulent transactions right under the banks’ noses. We are able to shine a light on this problem while offering a solution that enables banks to put an end to this type of illegal activity.”
EverCompliant is a leading provider of Cyber Risk Intelligence and Merchant Fraud Detection. Our focus is to detect and prevent transaction and money launderers, hidden transaction tunnels and merchant fraud from entering the e-commerce ecosystem. Our innovative AI and cyber intelligence proprietary technologies allow our clients to manage their merchant risk by gathering extensive risk management information that allows them to reach a conclusive business decision regarding each of their merchants.
EverCompliant is headquartered in Tel Aviv, Israel with offices in New York City.
Learn more at: https://evercompliant.com
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