Internet sales have risen exponentially in recent years where now billions of pounds are spent and traded over the Internet every year providing in some cases easy and rich pickings for professional fraudsters. We have a range of fraud prevention solutions that can be tailored to your specific requirements.
SmartSearch offers a range of comprehensive services that can be used in isolation or as a combined fraud prevention solution.
ID Validation – Accessing Experian’s major reference data sources such as full Electoral Roll, CAIS Credit Performance Data, CCJ’s, Bankruptcy, Fraud Score & Alert Services
Bank & Card Validation - Validate Bank Account & Sort Code to the “Name on the card” at the “address given”. Verifying the Account Holder, Card Number to the Account and Person to the Account as well as AVS and CV2 checks on the card.
Mobile Validation - Live Mobile, Network Code, Operator, Country Code,
IP & Device Validation - High Risk Areas, Hidden IP addresses
Delivery Fraud Score - Understand the risks involved and identifying high risk delivery areas
CIFAS – Credit Industry Fraud Avoidance Scheme. A member’s only private database of known fraudsters which can be used to screen new customer recruitment
Global Fraud Alliance Data - The Largest Online Database of known Fraudsters for E-Commerce
Much of the Professional Regulated Sector have realised the benefits of operating SmartSearch giving them a single platform for all of their Individual and Business AML, Sanction & PEP compliance requirements. The ability to retain all of their AML verification data and outcomes in a real-time environment where information can be retrieved on demand to satisfy any internal audits or regulatory visits.
Much of the Professional Regulated Sector have realised the benefits of operating SmartSearch giving them a single platform for all of their Individual and Business AML, Sanction & PEP compliance requirements. The ability to retain your AML verification data and outcomes in a real-time environment where information can be retrieved on demand to satisfy any internal audits or regulatory visits; this is just one of the features that saves our clients time and cost and gives them peace of mind to concentrate on their own business matters.
When the Regulator changed from OFT to HMRC this increased the focus on AML, Sanction & PEP compliance. As a consequence an ever increasing number of firms have upgraded their compliance regimes to incorporate electronic verification, demonstrating their compliance with regulations in a much more efficient and cost effective manner significantly reducing their operational risk.
Banks, Building Societies & Financial Communities are steadily catching up with the Professional Regulated Sectors with an increasing number of Financial Organisations switching to SmartSearch for their AML, Sanction & PEP compliance. These Communities are not renowned for being early adopters as they typically have long standing legacy IT systems that usually take several years to implement change.
Networks and Compliance Specialists provide their clients with large range of support products and services. SmartSearch partners with some of the largest Networks to provide their Members with fully integrated cost effective AML, Sanctions & PEP solutions, helping Firms to comply with the latest Money Laundering Regulations.
The offence under Proceeds of Crime Act (POCA) relates to any activity involving criminal or terrorist property. This is a much broader definition than the commonly understood definition of money laundering. A business can commit an offence under POCA by unwittingly facilitating an act of fraud.
In the instant decisioning world of global stock markets “time is of the essence” therefore using traditional documents is a totally ineffective means of complying with AML regulations. Likewise checking against other mandatory data sources such as Sanctions & PEPs on a regular basis is not commercially practical unless this is fully automated.