WHO’S RUNNING YOUR BUSINESS?
Equifax supports the Metropolitan Police in fight against corporate ID fraud
Businesses will be shocked to know how easy it is to change company documentation, names of directors and even trading addresses without their knowledge. On 9th May 2005, the Metropolitan Police is launching its St£rling Proactive Prevention Team to combat the growing threat of corporate identity theft. Leading fraud prevention solutions provider, Equifax, fully supports the Met’s initiative, designed to raise awareness of commercial fraud amongst business owners and will be present at the event.
“Corporate identity fraud has become a very real threat for today’s businesses, with the theft of company documents and information becoming all too common,” explains Wayne Davies, Head of Business Product Development of Equifax. “Once this information has been stolen, fraudsters can use a company’s identity and reputation to open new accounts and even use long established existing accounts putting innocent businesses at risk. At Equifax we are continually developing products and services to help businesses protect themselves.”
The Equifax Portfolio Monitoring Service allows businesses to monitor a range of changes to their business that may identify the presence of fraudulent activity. A Portfolio Monitor alert will be triggered as new information becomes available to Equifax, highlighting elements such as new accounts being filed, a change to Registered Office, the appointment of new directors, a credit limit change, CCJ information and insolvency orders. All the information can be viewed on a daily basis and, because time is of the essence, an email alert service will inform subscribers of any changes within minutes of it being known to Equifax
Wayne Davies concludes, “The Equifax Portfolio Monitoring Service offers businesses very real protection, but the first step towards closing the net on criminals is being aware of the problem. It is very encouraging to see the Metropolitan Police taking the issue of corporate identity theft seriously. This new initiative is a huge step in the fight against this crime, highlighting the issue amongst the business community. The Met have produced an informative leaflet, outlining four practical steps businesses can take to protect themselves. It also sends a clear message to fraudsters that the business community is clamping down on this crime.”
