EverCompliant is Helping Banks Catch Online Money Laundering

EverCompliant’s Founder & CEO Ron Teicher says the internet has made money laundering a lot easier; according to Teicher up to 10 per cent of the merchants sending payments through banks systems are complete unknowns; “You know nothing about them — who they are, what they do, what countries they are incorporated in,” he says to the FT. “They’re hiding behind what seems to be legitimate merchants.”; EverCompliant has about 120 employees and recently raised $13mn in an initial round backed by American Express Ventures; the market is estimated to me more than $2bn but data patterns typically repeat themselves which allows for firms like EverCompliant to spot frauds; with more businesses going online due to the pandemic the size of the problem is about to grow substantially. Financial Times.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.