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EQUIFAX PROVIDES BUSINESSES WITH GOOD ADVICE TO AVOID CORPORATE IDENTITY FRAUD

National Identity Fraud Prevention Week – 8th-14th October 2007

Equifax, a leading ID fraud expert, is offering businesses a handy guide to help them tackle the issues of corporate identity fraud raised during National Identity Fraud Prevention Week (8th-14th October 2007). Equifax’s Guide to Combating ID Theft & Fraud offers businesses an accurate and easy to read overview of the risks and solutions.

“Recent figures from KPMG reveal that government and businesses lost £594m to fraud in the first half of 2007, almost three times the figure recorded six months previously,” confirmed Neil Munroe, External Affairs Director, Equifax. “As the cost of corporate fraud escalates, many businesses continue to stick their heads in the sand. By producing this pocket guide we hope to raise awareness of the issues facing companies and organisations, as well as provide helpful advice on how to tackle this often invisible threat.”

The concise guide outlines each of the threats to businesses, including long firm fraud, phoenix companies and company hi-jacking. Each section is followed by advice on reducing the risks, ranging from practical steps such as confirming a trading address to advice on investment in online monitoring tools. The informative booklet also includes a 12-point checklist for businesses outlining key ways to reduce the risks.

“Knowledge is definitely power,” agrees Fellowes’ Tyron Hill, an official spokesperson for National Identity Fraud Prevention Week. “Business leaders and their employees alike need to understand the risks – which will encourage the development of new, responsible habits. ID fraud is so easy to prevent: from installing the latest security software, to providing employees with desk-side or office shredders – there is no excuse for exposing your business. Make ID fraud prevention part of your every day routine.”

Munroe concludes, “The Equifax Guide offers a clear picture of the very real threat of corporate fraud, providing businesses with an insight into the scale of the problem and most importantly how to protect themselves. After all, the cost of ID theft and fraud is three-fold. Money, reputation and the confidence of customers are all at risk without it.”

To obtain a free copy of the Equifax Pocket Guide to Combating ID Theft & Fraud call 01274 759 729 or view pdf at http://www.equifax.co.uk/hme_PDF/combatcorpfraud_07.pdf

The Equifax 12-point Checklist to reduce the risk of Corporate ID Theft & Fraud

  1. Identify business partners and directors
  2. Confirm fax and telephone numbers
  3. Never accept hand written order forms or faxes
  4. Confirm the trading address of customers and suppliers
  5. Ask for original headed company paper
  6. Don’t assume information provided is correct – always double check and follow up references
  7. Are you sure they are who they say they are?
  8. Check that the telephone area code is relevant to where the business claims to be trading from
  9. Can they provide trade or bank references?
  10. Are all references truly independent?
  11. Check for any connections to previous companies with similar or identical names
  12. Did they answer your call with a business name?

END

Notes to Editors

For further press information please contact: Claire Foster, Kate Clements or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: claire@harrisonsadler.com

About Equifax

Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.

Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability.  Businesses – large and small – rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more.  We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.

Headquartered in Atlanta, Georgia, Equifax Inc. employs approximately 6,900 people in 14 countries through North America, Latin America and Europe. Equifax is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.

Equifax. Information That Empowers.