White Papers

How to Prevent Transaction Laundering How to Prevent Transaction Laundering

How to Prevent Transaction Laundering

See how EverC compares to other solutions and learn about the unique benefits of EverC’s MerchantView product. Transaction Laundering is a significant and growing problem online, further intensifying the urgency for MSPs and other payments industry stakeholders to become as agile and efficient as the fraudsters themselves. But as cyber criminals look for new ways to conduct online merchant fraud, their prior tactics never completely disappear; instead cyber criminals are skilled at layering new types of fraud onto old tactics.
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Shining The Light On The KYC/AML Blind Spot

For more than two decades, financial institutions have been investing huge resources to build a robust and comprehensive Know Your Customer (KYC) program to comply with regulators and Anti-Money Laundering (AML) laws. KYC procedures enable banks to better understand their customers’ financial dealings and manage risk to their business. Yet in our ever-growing digital age, these KYC programs still focus almost entirely on the physical, offline details of their customers, while ignoring the online presence of their customers’ identities.
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Success stories

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MerchantView Helps EU Bank Completely Eliminate Transaction Laundering Violations

An acquiring bank offering merchant services to brick-and-mortar and online merchants was being fined more than $800K per year by the card networks for failing to detect illegal transaction laundering occurring in its low-risk merchant portfolio. Read how EverC saved the bank more than $3.6M in potential fines after deploying MerchantView™ to onboard new merchants and conduct ongoing monitoring of the bank’s existing merchant portfolio.
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Nutraceutical Merchant’s Network Exposed

An acquirer conducting enhanced due diligence had suspicions about one of its high-volume nutraceutical merchants. The acquirer’s risk management team performed extensive research, yet was unable to detect any wrongdoing. Read how EverC’s MerchantView™ uncovered the suspicious merchant’s secret network of 33 active websites, saving the acquirer millions of dollars in fines.
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