Seon acquires AML firm Complytron to fight FinCrime

By Gloria Methri

International fraud prevention company SEON has announced the acquisition of compliance and anti-money laundering (AML) specialist firm, Complytron. The acquisition adds AML capabilities to SEON’s fraud-fighting toolkit and signals a new focus on financial crime prevention for the growing business.

As a result of the acquisition, SEON now offers a vital single source for FinCrime intelligence combined with decision functionality to help address evolving regulatory requirements.

Speaking on the acquisition, and the launch of the AML capability, Tamas Kadar, co-founder and CEO of SEON commented, “Our goal at SEON has always been to deliver the best solutions to our customers. Rather than building an AML solution from the ground up, it made perfect sense for us to acquire Complytron’s extensive and innovative algorithms and worldwide databases – as well as the expertise of its talented team.

Oliver Lebhardt, CEO of Complytron and current Product Manager of AML at SEON added, “We have watched the SEON story unfold, keeping up with the business alongside its exciting growth trajectory. It is now great to be a part of the mission and to play a role in combining fraud prevention and AML tools into a single source. This acquisition represents a major step in the battle to reduce FinCrime and will help sectors such as FinTrvh online lending, gaming, neobanking, e-commerce, and travel, to prevent criminal activity via their platforms.”

The new solution, which is already available for use, is quick to install and delivers immediate benefits, combining APIs for real-time insights, and instantly sending out notifications should an individual’s risk status change.

As part of the deal, SEON acquires full rights to Complytron’s innovative technologies, as well as the company’s staff, including its dedicated AML team. Notably, Complytron’s co-founder and CEO, Oliver Lebhardt, will join SEON along with co-founder and UX lead, Abris Gryllus and his expert team.