|
The
funds will be used to open an office in Asia in 2017, for
additional expansion in the United States and Europe and to grow
its research and development operations.
EverCompliant focuses on detecting and preventing "transaction
laundering", where fraudsters take advantage of payment systems
by funneling transactions through legitimate e-merchant
accounts.
EverCompliant has identified close to 2 million unregistered
merchants in the United States alone and said the payment
industry is often unaware of merchant-based fraud until it's too
late.
"As e-commerce has evolved, money laundering has morphed into a
new digital form," said Ron Teicher, CEO of EverCompliant. "Most
concerning is that transaction laundering is occurring right
under the noses of regulators worldwide."
(Reporting by Tova Cohen)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
