Page All:
Page 1
EverCompliant Becomes First Solution Capable of Detecting Transaction Laundering On Mobile Applications
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
COPENHAGEN, Denmark and TEL AVIV, Israel, April 6, 2016 /PRNewswire/ --
EverCompliant [http://www.evercompliant.com ], the pioneer of Transaction Laundering
Detection and Prevention [http://www.evercompliant.com ], introduces a new capability to
its MerchantView platform detecting transaction laundering for mobile applications.
EverCompliant now provides acquirers, payment service providers, payment facilitators and
marketplaces with the ability to detect hidden mobile apps and fraudulent mobile payments
being processed through legitimate merchant accounts.
With mobile payments expected to top $800 billion by 2019
[http://uk.businessinsider.com/mobile-payments-to-top-800-billion-by-2019-apple-pay-and-samsung-pay-2015-6?r=US&IR=T ]
, comes the increase of fraudulent transactions, specifically
the migration of transaction laundering to mobile. Fraudsters are now starting to use
mobile apps to process payments for illicit purposes through legitimate merchant accounts,
making it almost impossible for the payment industry to detect. When fraudulent
transactions go undetected, banks can end up paying heavy fines, face legal actions and
damage their overall reputation.
Using state of the art cyber risk intelligence techniques, EverCompliant can detect
and prevent transaction laundering activities from entering the payment ecosystem. The
system reveals related and unreported mobile applications, URLs, payment environments and
provides the tools to manage risk on an ongoing basis.Â
"With the migration to mobile we are currently witnessing around the world, we expect
mobile ecommerce apps to become a prime target for fraud, resulting in millions of dollars
of loss and associated costs for payment industry players," said EverCompliant CEO Ron
Teicher. "As the pioneers of Transaction Laundering detection and prevention,
EverCompliant is closely monitoring the evolution of merchant based fraud techniques and
developing a unique technology to help our partners stay ahead of the curve."
On April 6, EverCompliant will be announcing transaction laundering detection for
mobile apps at 4pm in Track Room 5.Â
About EverCompliantÂ
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:Â http://www.evercompliant.com
Â
For more information please contact  Â
Judith WahnonÂ
EverCompliantÂ
+1-(516)-231-0353Â
Judithw@evercompliant.com  Â
Â
EverCompliant
EverCompliant Becomes First Solution Capable of Detecting Transaction Laundering On Mobile Applications
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
COPENHAGEN, Denmark and TEL AVIV, Israel, April 6, 2016 /PRNewswire/ --
EverCompliant [http://www.evercompliant.com ], the pioneer of Transaction Laundering
Detection and Prevention [http://www.evercompliant.com ], introduces a new capability to
its MerchantView platform detecting transaction laundering for mobile applications.
EverCompliant now provides acquirers, payment service providers, payment facilitators and
marketplaces with the ability to detect hidden mobile apps and fraudulent mobile payments
being processed through legitimate merchant accounts.
With mobile payments expected to top $800 billion by 2019
[http://uk.businessinsider.com/mobile-payments-to-top-800-billion-by-2019-apple-pay-and-samsung-pay-2015-6?r=US&IR=T ]
, comes the increase of fraudulent transactions, specifically
the migration of transaction laundering to mobile. Fraudsters are now starting to use
mobile apps to process payments for illicit purposes through legitimate merchant accounts,
making it almost impossible for the payment industry to detect. When fraudulent
transactions go undetected, banks can end up paying heavy fines, face legal actions and
damage their overall reputation.
Using state of the art cyber risk intelligence techniques, EverCompliant can detect
and prevent transaction laundering activities from entering the payment ecosystem. The
system reveals related and unreported mobile applications, URLs, payment environments and
provides the tools to manage risk on an ongoing basis.Â
"With the migration to mobile we are currently witnessing around the world, we expect
mobile ecommerce apps to become a prime target for fraud, resulting in millions of dollars
of loss and associated costs for payment industry players," said EverCompliant CEO Ron
Teicher. "As the pioneers of Transaction Laundering detection and prevention,
EverCompliant is closely monitoring the evolution of merchant based fraud techniques and
developing a unique technology to help our partners stay ahead of the curve."
On April 6, EverCompliant will be announcing transaction laundering detection for
mobile apps at 4pm in Track Room 5.Â
About EverCompliantÂ
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:Â http://www.evercompliant.com
Â
For more information please contact  Â
Judith WahnonÂ
EverCompliantÂ
+1-(516)-231-0353Â
Judithw@evercompliant.com  Â
Â
EverCompliant