Austreme granted patent for its transaction laundering detection tech

Thursday 10 October 2019 09:59 CET | News

Austreme has been granted a patent for its transaction laundering detection (TLD) technology.

The technology assists the payment industry in detecting transactions from unauthorised ecommerce websites. Austreme processes tens of millions of websites daily, and continuously feed data to their machine learning systems for tracing and detection of high-risk transactions, according to the official press release.

Through incorporating Austreme’s other patented technology that is used in web content monitoring, the company assists clients in coping with threats from money laundering, suspicious transactions, and illegitimate businesses.

TLD and web content monitoring services are being used in Mastercard Champion Program by China acquirers and payment facilitators. Austreme provides financial risk management services for customers globally, specialising in big data analytics, anti-transaction laundering, online store illegal content monitoring and merchant onboarding.

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Keywords: merchants, transaction monitoring, money laundering, technology, patent, payment industry, Austreme, merchants onboarding
Countries: World