Fraud prevention

• Identi-Check®
• FCS OnLine Search

Detect and stop identity fraud before it happens

Identity fraud is on the increase worldwide with losses to the community and industry running into the billions₁. In Australia alone The Australian Institute of Criminology estimates the cost of fraud is over $5 billion₂ per year.

Identity fraud refers to the misuse of false or stolen identities and underpins terrorist and criminal activity₃ . Sophisticated groups or individuals attempt to obtain money, goods, services or credit facilities by deception using a false or contrived identity. The financial fraud can extend to stolen credit cards, counterfeit credit cards, fraudulent loans, fraudulently obtaining pensions, tax evasion and more.

Electronic verification of your customer’s identity is now essential for most businesses from not only a risk and compliance standpoint but many are seeing the business benefit of streamlining the application process and improving the customer experience.

FCS OnLine has developed electronic identity verification solutions that can help you detect invalid, abnormal or incompatible attributes of an identity in seconds. They have been designed to aid organisations with their regulatory compliance requirements for the Financial Transaction Reporting Act (FTRA) and Anti-Money Laundering (AML) and Counter Terrorism Financing Bill 2006 (CTF).

Using our tools you can cross-check the names, addresses, contact details and referees of potential customers against more than 100 million current and historical consumer records from multiple data sources and immediately be alerted to discrepancies and possible fraudulent information. Any organisation with an online presence should talk to FCS.

Ideal solutions for:

For more information or to arrange a free demo, contact us on 13 23 33

1. "Identity Fraud in Australia", Industry Research Centre of Asia-Pacific (SIRCA) for financial intelligence agency AUSTRAC.
2. The Australian Institute of Criminology "Crime and Criminal Justice Statistics, Fraud", 2005.
3. “Protecting Identity Security”, Australian Government, Attorney-General’s Department