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Equifax launches anti-fraud tools

With estimates that the direct and indirect costs of corporate ID fraud could be as high as 50m per annum, business information expert Equifax is tackling the problem with new anti-fraud tools.

Working in close partnership with the Metropolitan Polices Stirling initiative launched earlier this year, Equifax has introduced two services designed to bring increased protection to businesses. Stirling is the police initiative targeting criminals profiting from fraud and money laundering and offers Equifax customers an additional level of information in the fight against corporate ID fraud.

The first service introduced by Equifax is a Fraud Alert system which uses information about reported suspect and confirmed frauds from both the Metropolitan Police and from Equifaxs customer database. The fraud alert appears on the Equifax Optima online report of the company in question and includes a description of the nature of the fraud or suspected fraud as supplied by the Police Stirling Liaison Team, giving businesses greater support in identifying corporate ID fraud.

Neil Munroe, external affairs director of Equifax, says: The Fraud Alert, in association with the Stirling team, helps us maintain this position. The Fraud Alert offers a quick link through our Optima report directly to the information concerning the fraud, helping businesses make informed decisions and effectively assess which companies to trade with.

In addition, Equifax has introduced a Fraud Watch Service which allows businesses to proactively report incidences of corporate ID fraud to which they have been victims using an online form available from The data from returned forms will be assessed by Equifaxs corporate ID fraud experts and relevant information added to the Optima reports. Reported information is also passed to the Stirling team as part of the open communication between them and Equifax.

Munroe adds: Equifax Optima already offers a great depth of information, giving businesses the ability to make better decisions, using the full scope of Equifaxs databases. Fraud Alert is part of our ongoing commitment to developing and enhancing our anti-fraud products. Not only can we alert our customers to fraudulent activity, but through the Fraud Watch Service Equifax is providing a fast effective way for them to report fraud.

Through these two initiatives we have created a two-way street of communication between our team and our customers. In addition, our close working relationship with Project Stirling means Equifax customers have access to a higher level of information than ever before.


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