FraudScore
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Future-proof your firm against fraud
Fraudsters consistently look for loopholes or ways to manipulate businesses in their favour. And with this type of financial crime still so rife in today’s society, it’s crucial that your organisation has robust anti-fraud checks in place to manage and mitigate risk of money laundering and financial crime.
Take your anti-fraud checks to the next level with our FraudScore technology. With capabilities to indicate possible mule money-laundering activity patterns, you can rest assured our FraudScore goes beyond the basics.
Over £1.2 billion was stolen through fraud in 2022—equivalent to over £2,300 every minute
How our FraudScore check works
Our FraudScore check can be deployed as part of a standard AML check, or as a standalone check, depending on your business needs.
Using UK-wide credit application data, electoral register and adverse credit data (CCJs and bankruptcies) with only soft file footprints, our FraudScore checks are effective and reliable. Once an analysis has been made against broad outcome data from over 120,000 other applicants, your client will be given a fraud score between 1-1000, showing behaviour commonality with known fraud consortia listings.
The benefits of our FraudScore check
Our FraudScore check can help to ensure your organisation always complies with AML regulations. There are so many benefits to integrating this technology with your existing compliance processes, including:
- Simple and flexible ordering from within the standard Veriphy AML check, or as a standalone check
- Identifies 2 in 3 of the riskiest 1%, and over 50% of the riskiest 7%
- Powered by extensive and reliable Experian data to highlight potential risk via machine learning
- Being time-efficient and cutting client onboarding time
- Cost-effective as you’ll only pay for your usage, rather than work on a contract basis
Maintain compliance with seamless API integration
Our FraudScore check ensures you can align your customer due diligence processes with internal risk assessments and helps to streamline your client onboarding.
We can seamlessly integrate our FraudScore check with your existing systems, to keep all your compliance processes in one place.
