BANKDetect has joined forces with the Bank Closed Account Reporting System (BANKCARS) to offer banks an affordable way to check identities.
BANKCARS has a national database of information from financial institutions and merchants on 168 million checking accounts. The database is updated daily and contains information on unpaid returned checks and closed-for-cause bank accounts. Users of the BANKCARS database can search not just by account numbers, but by social security numbers or driver's license numbers. Results arrive in seconds.
BANKDetect enhances the database by performing 130 additional identification checks using an applicant's address, phone number, and other information and by searching the Office of Foreign Assets Control database.
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