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Minimizing Fraud -- Experian Fraud Solutions

Question: 
How do I minimize fraud in my business? According to an Experian study, businesses are losing $35 billion to application fraud each year. Meeting the growing demand for instant decisions, in person and online, opens doors to a sea of new perpetrators and further increases your risk. In addition to your own mounting losses, fraud takes its toll on consumers through higher interest rates and fees as well as bruised credit (Source: Smart Business magazine, March 2001).
Answer: 

Obtaining single-point access to consumer and commercial fraud records, the National Fraud DatabaseSM is a powerful resource used to illuminate fraud patterns, and define and identify fraud attributes.

  • Distinguish fraudulent applications from high-risk applicants, enabling more rapid decisioning
  • Confirm the identity of the customer you can't see with a Web-based session, which provides a seamless customer experience
  • Prevent fraud by checking customer data against a known fraud database

Using extensive data on millions of customers, your organization can identify potentially fraudulent activity before it can affect your bottom line.

Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, property, e-commerce and government. Experian is a subsidiary of GUS plc and has headquarters in Nottingham, UK, and Costa Mesa, Calif. It has a 175-year history and unbroken sales growth over the past 22 years. Its 13,000 people support clients in more than 60 countries. Annual sales exceed $1.5 billion. You can learn more about Experian's Fraud Solutions by visiting: http://www.experian.com/products/fraud_solutions.html
800-859-8990Email address: Kevin.mcclafferty@us.scorex.com

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First published on 07/07/2003

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