EverCompliant Expands Asia Pacific Operations with New Office in Shanghai

PR68682

TEL AVIV, Israel, May 24, 2017 /PRNewswire=KYODO JBN/ --

    New office will support Asian Pacific payment industry customers with

leading transaction laundering prevention and detection solution

    EverCompliant, the pioneer of Transaction Laundering Detection and

Prevention, announced today the opening of its new office in Shanghai, China.

The expansion of its global operations will allow EverCompliant to properly

meet the growing demand from its Asian customer base as well as help drive

growth for the company's solution across the region.

    With the rapid growth in ecommerce, new sophisticated merchant-based fraud

schemes are developing at a rate that makes them increasingly difficult to

detect. Transaction laundering is money laundering for the digital age and is a

real threat to the modern payment industry as fraudsters are taking full

advantage of payment ecosystems by funneling transactions through legitimate

emerchant accounts. China ranks high in terms of vulnerability as in 2020

online retail purchases are expected to account for 68% of global sales

[

http://www.cmo.com/features/articles/2016/12/7/ecommerce-boom-in-china-registers-big-opportunities-with-brands-.html#gs.MQvPx9o

], causing a major threat to Merchant Service Providers (MSPs) such as

acquiring banks, PSPs, payment facilitators, hosting providers and online

marketplaces.

    "Our entry into the Asian market comes at a crucial time, as MSPs need cyber

intelligence to combat the growing epidemic of transaction laundering within

the payment infrastructure," said Ron Teicher, CEO of EverCompliant. "Our new

office in China will enable us to bring our unique technology to our Asian

customers and grow our client base while providing an uncompromising level of

service."

    About EverCompliant

    EverCompliant is the pioneer and industry leader in transaction laundering

detection and prevention. The company's flagship product, MerchantView(TM), is

the first and only dedicated solution on the market designed from its core to

detect and prevent transaction laundering. MerchantView applies proprietary

cyber intelligence technology to identify unknown and hidden merchants

funneling transactions through seemingly legitimate storefront websites. Its

accuracy, transparency, and ability to uncover hidden ecommerce networks and

merchants sets it apart from other competing platforms. EverCompliant's

technology has been adopted by large-scale financial institutions and payment

service

providers in Asia, Europe, U.S., and the Middle East, and is an approved

MasterCard MMSP. EverCompliant is headquartered in Tel Aviv, Israel with

offices in New York City and Shanghai.

    Contact:

    Judith Wahnon

    EverCompliant

    +1-(516)-231-0353

    Judithw@evercompliant.com

SOURCE: EverCompliant