Fraud

Develop an eye for bad debts

Minimising fraud and bad debt through effective verification of your customers’ details is of key importance in any financial organisation. One way fraud makes its way into your company is through false and inaccurate addresses. The worst offenders give false addresses when they contact financial companies. Knowing this fact can help you stop fraud before it even happens.

By verifying new customers address details as they are entered into your database, could help you minimise risk by:

• Immediately identify false addresses, flagging potential fraud cases.
• Improve the identification of duplicate addresses. If you notice several unrelated people claiming to live at the same home, you may have detected a fraud ring.