About eFraud Services Inc.

Built by investigators,
for investigators

eFraud Investigator was born from a decade of working directly alongside forensic accountants, fraud investigators, and government agencies — watching brilliant professionals waste the majority of their time cleaning up data instead of finding fraud. We built the tool we wished existed.

2020
Founded in Naples, Florida
Gen AI
Powered by Gemini via Google Vertex AI — Financial Context Understanding, not OCR
SaaS
100% browser-based — no software installation, no license fees, no user seats
99.9%
Extraction accuracy — verified against statement balances on every case
Our Story

The problem was hiding
in plain sight

"Investigators were spending 80% of their time cleaning data. The fraud was in the other 20% — and they were running out of time to find it."

Financial fraud investigations have a dirty secret: the work that matters most — tracing funds, identifying patterns, building a case — rarely starts on day one. It starts after weeks of manual data entry, reformatting broken OCR output, and hand-calculating running balances to verify the numbers are even correct.

eFraud Services was founded to eliminate that bottleneck. Not to make OCR faster — to replace it entirely with an AI engine that understands financial documents the way an experienced auditor does.

The breakthrough came with Generative AI. Unlike traditional OCR tools that extract characters without context, Gen AI understands the structure and logic of a bank statement — the relationship between debits, credits, and running balances. It doesn't just read the document. It reconstructs the financial history.

The result is a platform that takes investigators from a chaotic PDF document dump to a fully verified, interactive investigation dashboard in minutes — with no templates, no configuration, and no cleanup required.

"eFraud was able to accomplish in 2.5 months what they could not accomplish in 2 years."
Attorneys to the New York Attorney General
People v. Aaron D. Fischman / Cardis Enterprises International — a 20-count criminal indictment for securities fraud. eFraud Services analyzed 39 bank accounts to trace over $31 million in diverted funds on behalf of the NY AG.
Company Timeline
2020

eFraud Services Inc. founded

Barbara Steinberg and Robert Hayum co-found eFraud Services in Naples, Florida, targeting the financial investigation market.

2021–22

First customer engagements

Early platform validated with forensic accounting firms, government agencies, and individual investigators across multiple states.

2023

Gen AI engine developed

Platform rebuilt around Generative AI — moving from template-based extraction to Financial Context Understanding. Near-100% accuracy achieved without templates.

2024

Investigation dashboard launched

Full BI dashboard added — Fund Flow network diagram, automated fraud flags, Payee Analysis, and Anomaly Detection. Gemini 2.5 Pro via Google Vertex AI integrated.

2025–26

Scaling for growth

Bold BI analytics migration completed. Multi-tenant architecture supporting commercial and government customers. Platform ready for enterprise scale.

The Team

Domain expertise you
can't manufacture

eFraud Investigator is built by a founding team that brings together deep forensic accounting domain knowledge and Fortune 500 enterprise technology leadership — the exact combination required to build a platform that investigators will actually trust with their evidence.

BS
Barbara Steinberg
President & CEO · Co-Founder
Naples, Florida

Barbara brings a rare combination of software engineering depth and forensic accounting domain knowledge to eFraud Investigator. With a decade of direct experience working alongside forensic accountants and financial fraud investigators, she built eFraud Investigator to solve a problem she watched professionals struggle with firsthand — the massive time cost of turning subpoenaed financial documents into usable evidence.

The technical challenge was formidable — multiple developers attempted to build this platform before Barbara and could not make it work. She took over development, rewrote the majority of the codebase, and delivered what others could not. A serial entrepreneur who has launched five businesses, she built eFraud Investigator in active collaboration with investigators and forensic accountants, incorporating their feedback at every stage to ensure the platform solves real problems rather than theoretical ones. She leads all product development and engineering.

BS, Medical Computer Science — Downstate Medical Center, SUNY
MS, Electrical Engineering — Columbia University
MBA — Fairleigh Dickinson University
10+ years working directly with forensic accountants and fraud investigators
Serial entrepreneur — 5 businesses founded and launched
Sole developer of eFraud Investigator — succeeded where multiple prior developers could not
RH
Robert Hayum
Vice President & COO · Co-Founder
Naples, Florida

Robert brings Fortune 500 enterprise technology leadership and a distinguished engineering career to eFraud Services. As former VP of IT at Revlon and a senior consultant at Coopers & Lybrand (now PricewaterhouseCoopers) and Business Edge, he built and led technology practices serving global clients — giving eFraud Investigator the enterprise infrastructure credibility that government agencies and large firms require.

An accomplished entrepreneur in his own right, Robert also co-manages two successful internet ventures. He oversees operations, business development, and enterprise customer relationships for eFraud Services.

BS, Electrical Engineering — City University of New York
MS, Electrical Engineering — MIT
Contributed to Apollo lunar landing systems at MIT — device in Smithsonian Air & Space Museum
Former VP of IT, Revlon (Fortune 500)
Former Senior Consultant, Coopers & Lybrand (now PricewaterhouseCoopers)
Why Now

The technology finally
matches the problem

Financial document extraction has been attempted for decades. What makes eFraud Investigator different — and why it works now when earlier attempts failed — is the arrival of Generative AI with genuine Financial Context Understanding.

Gen AI changed the extraction equation

Traditional OCR reads characters. Gen AI understands context. For the first time, software can process a bank statement the way an experienced auditor does — recognizing the logical structure, not just the text on the page.

The market problem is growing, not shrinking

Financial fraud is rising. Agency caseloads are increasing. Private firms face more discovery volume than ever. The data cleanup bottleneck that existed a decade ago is now a crisis — and the market is actively looking for a solution that actually works.

Trust infrastructure now exists

Courts and regulatory bodies are increasingly comfortable with AI-assisted evidence — provided the methodology is transparent, the math is verified, and the chain of custody is intact. eFraud Investigator was built to meet all three requirements from day one.

Browser-based SaaS removes every adoption barrier

No software installation. No IT procurement. No licenses. Any investigator with a browser can start the same day. The business model fits a local CPA firm's budget and scales to a federal agency's volume — without changing anything.

Our Mission
"Every day that financial fraud goes undetected, someone pays for it. We exist to make sure investigators spend their time finding the fraud — not cleaning the data."
Barbara Steinberg · President & CEO · eFraud Services Inc.
Get in Touch

Talk to the team
directly

Whether you're evaluating the platform, exploring a partnership, or want to learn more about where we're headed — we're easy to reach.

💬

Product & Sales

Questions about the platform, a live demo request, or evaluating eFraud Investigator for your organization. We'll process your own PDF live in 15 minutes.

info@efraudservices.com
(239) 842-8224
877.962.3800

2430 Vanderbilt Beach Rd, Suite 108
Naples, FL 34109
🤝

Partnerships & Investment

We're selectively exploring partnerships, channel relationships, and conversations with investors who understand the financial investigation market and the scale of the opportunity.

Direct inquiries to Barbara Steinberg

barbara@efraudservices.com
efraudservices.com
Annual prepay package Cost per year Cost per page Cost per page over
10,000 pages/year $7,500/year $0.75 $0.95/page over 10,000 Select 10,000 page package
20,000 pages/year $15,000/year $0.75 $0.95/page over 20,000 Select 20,000 page package
50,000 pages/year $37,500/year $0.75 $0.95/page over 50,000 Select 50,000 page package
100,000 pages/year $75,000/year $0.75 $0.95/page over 100,000 Select 100,000 page package
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