The report also highlights the growing impact of ID related fraud:
“Gangs have also aggressively exploited ID theft to perpetrate scams, making false benefit or tax credit claims. One husband and wife team claimed benefits for no fewer than eight adults and forty six children at a one bed flat in London, defrauding the public purse of over £1.1m. Other gangs targeted the transport system, organising large scale frauds on fake bus and tube passes ..”
With GB Group's innovative ID3 technology, we can support businesses in the UK, and around the globe, to protect themselves, and their customers, against identity fraud. By providing screening against the most comprehensive range of identity information, GB’s ID fraud solutions can confirm to a high degree of assurance that your customer is who he says he is. By cross referencing a variety of different data sources, including data supplied by your own organisation if appropriate, our ID fraud solutions offer higher match rates and greater accuracy in detecting customers or employees who falsify their personal information or use forged documents or payment cards.
Increasingly in this digital era, business is transacted in a non face-to-face environment so it has never been more important to confirm the identity of potential customers before you engage in any financial relationship. But dealing with the fraud risk without impacting on good customers’ buying experience is a finely balanced exercise. GB’s technology reduces ID fraud simply by mapping on to your own risk strategy. Low risk customers, buying low risk products, can be handled very differently from customers in high risk groups buying the very latest “must have” product.