Experian, the global information solutions company, has achieved an industry first by becoming an accredited Cifas member.
The company is one of just 14 out of 255 members with this accreditation following three separate compliance reviews by CIFAS over three years. Having achieved a 'superior' rating on each occasion, Experian's Consumer Operations department was eligible to apply for accreditation.
To attain the accreditation, the fraud team had to demonstrate best practice in all areas, with all its procedures being thoroughly examined by independent consultants employed by CIFAS. The review also covered staff training and the handling of complaints.
Experian's Consumer Operations has been helping to protect consumers and lenders from fraud for over four years by identifying fraudulent applications for credit reports by 'consumers' and notifying Cifas. This information can be accessed by financial services providers (who are Cifas members) to help identify potentially fraudulent activity and thus reduce their losses resulting from fraud.
"Experian is the first credit reference agency to achieve this standard", said Beverley Young, Head of Training and Compliance at Cifas. "This accreditation underlines the strength of the company's commitment to combating fraudulent activity."
Helen Lord, Director of Fraud, Compliance and Product Governance at Experian, said: "It's great to see our contribution to combating fraud achieving this, the highest industry recognition, for our efforts. We're continually developing our consumer intelligence services to help financial service providers and anti-fraud officials reduce fraud, minimise risk and better protect the consumer."
Experian will be presented with the Accredited Member Certificate at the Cifas AGM at The Landmark Hotel London in May 2007