Acoru Raises €10M To Combat Money Mules And Prevent Financial Fraud

Generative AI scams, deepfakes, voice cloning, and social engineering are driving global fraud losses near $500 billion annually. Current tools largely miss Authorised Push Payment (APP) fraud and intent signals, focusing only on transactions, events, or sessions.

Founded in December 2023 by cybersecurity experts Pablo de la Riva Ferrezuelo and David Morán, Acoru tackles gaps in fraud prevention with its Account Monitoring Platform. The platform analyzes first-party and counterparty accounts to predict APP fraud, prevent scams, and reduce losses, supporting compliance with new shared-scam reimbursement regulations.

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Focusing on intent and network behavior, the system links pre-fraud signals across channels within a bank and, through the Acoru Consortium, across multiple institutions. It continuously updates risk profiles, detecting patterns like micro-transaction clusters or unusual interactions indicative of AI-driven attacks.

This allows fraud teams to act early blocking suspicious activity in victim and unwitting mule accounts and freezing complicit accounts before funds are moved.

Pablo de la Riva Ferrezuelo, CEO and co-founder of Acoru, said: Scammers today have more powerful tools at their disposal than ever before. Our approach predicts future victims, money mules and accounts at risk of being laundered by detecting the earliest warning signals others can’t see. With our innovative consortium model, banks can finally exchange account classifications through a centralised network that creates a truly collective defence. This is a paradigm shift in how fraud is fought.

The funding will allow Acoru to accelerate its mission, empowering banks to detect and stop AI-driven fraud and money laundering proactively, before any transactions take place.

About Acoru

Acoru’s Account Monitoring Platform helps banks predict and prevent fraud by analyzing both first-party and counterparty accounts. Built by veteran fraud experts, it links pre-fraud signals across channels and institutions to detect AI-driven scams, APP fraud and money-laundering. The platform enables banks to block suspicious transactions, freeze mule accounts and comply with regulations on scam reimbursement and reporting, protecting customers while enhancing collaboration and intelligence-sharing across the financial sector.