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Digital Identity, Security & Online Fraud

EverCompliant detects transaction laundering for mobile apps

Thursday 7 April 2016 | 10:11 AM CET

EverCompliant has introduced a new capability to its MerchantView platform detecting transaction laundering for mobile apps.

EverCompliant 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.

Fraudsters have started to use mobile apps to process payments for illegal purposes via 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 issues and damage their relation with the clients.

Using 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.

EverCompliant is a provider of Cyber Risk Intelligence and Merchant Fraud Detection. Thier focus is to detect and prevent transaction and money launderers, hidden transaction tunnels and merchant fraud from entering the e-commerce ecosystem.

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