With an evolving risk landscape and growth in technological innovation, it’s vital to stay informed.
Equifax Risk Solutions provides the insights businesses need to make highly informed decisions helping to identify, measure and mitigate risk.
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While PEP, sanctions and adverse media screening are vital for customer due diligence, false positives create unnecessary delays and frustration. These inaccurate matches waste time and resources, slowing down onboarding and impacting the customer experience.
So, how can you optimise your screening process and minimise false positives?
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When it was announced in 2017 that the world’s most valuable resource is no longer oil but data, organisations were already leveraging data to manage credit risk, predict future trends, and unlock new revenue systems to drive business growth.
Fraud risk is fast becoming a costly issue for auto dealerships. The shift to online purchasing has given fraudsters, scammers and criminal syndicates, more opportunity to manipulate fidentity information to secure loans and acquire vehicles through deception.
With the lure of lucrative payouts, fraudsters are refining their tactics to exploit gaps in fraud protection strategies, including how customer identities and driver’s licenses are verified and authenticated.
Keeping on top of your registrations on the Personal Property Securities Register (PPSR) isn’t just a one-time task – it’s an ongoing commitment to safeguarding your interests.
Why PPSR Guidance is Needed During Insolvency Surge
By Malcolm Poslinsky, PPSR Specialist, EDX from Equifax
The ongoing housing crisis remains a hot topic and one of the major concerns for many Australians. Figures from Equifax1 confirm a troubling trend: home ownership in Australia becomes a progressively distant aim for younger people.
Businesses collect and process vast amounts of data, and often overlook the importance of ensuring the data is accurate, reliable, relevant, complete, consistent and timely. For a data-critical sector like insurance, the process of cleaning data to fix inaccuracies, incomplete, duplicate or wrongly formatted records holds valuable benefits.
Establishing real, demonstrable trust in a person’s identity is essential for Australia’s 26.7 million people to transact online safely and effortlessly, levelling the playing field for credit access and fuelling our digital economy.
With Equifax’s robust credit rating methodology and processes, and the qualifications and expertise of its analyst team, we are able to identify early warning signals of company failures and their potential impacts.
We spoke with Tehani Legeay, General Manager of Identity and Fraud at Equifax, to determine what businesses need to know about fraud detection and prevention.
Is your company holding onto personal data long after customers have gone inactive? Do you collect unnecessary details like date of birth when a name would suffice? And how confident are you that your stored data won’t end up in the wrong hands?
