Datawatch has the Solution to combat Identity Fraud!

It has recently been reported in the press that a quarter of UK adults have had their identity stolen or know someone who has fallen victim to ID fraud, which is one of the fastest growing crimes in the UK. Identity fraud costs the country an estimated £1.3 billion a year.

ID thieves’ access accounts, run up bills, launder money, carry out benefit fraud and take out fraudulent loans. They use a host of methods to steal people's identities, ranging from the high-tech, such as sending emails containing viruses that access information on people's computers to rooting around in refuse to find old till receipts and bank statements.

It is increasingly easy for fraudsters to get hold of basic password information, such as mother’s maiden name and place of birth and great care needs to be taken by banks and institutions to ensure that these personal details are secure.

Examples range from fraudulent loans to accessing private bank details through internet sites. Chris Rodwell, Marketing Director at Datawatch comments "We are currently working with most of the major banks in the UK. Identity theft is a major concern and very topical at the moment and as a result we are having at least four meetings a week with banking clients to discuss the problem."

Datawatch’s fraud investigation and compliance solutions can be used for:
• Detecting inconsistencies or exceptions
• Internal inquiries and investigations
• Online reference to policies/procedures
• Online collaboration with supervisors/managers
• Case compilation for litigation consideration

The business benefits of Datawatch's compliance solutions include:
• Complying with FSA, Sarbanes-Oxley and other regulations at a fraction of the cost and headaches of alternative solutions
• Avoiding the fines, financial loss and bad publicity that non-compliance and undetected fraud can create
• Automating compliance business processes, minimizing user interaction, saving substantial costs, time & effort

The Solution:

Using the Datawatch Researcher, key information from databases, reports, documents, images, and email archives is integrated and reconciled into web pages. Datawatch|Researcher organises these pages by subject, and cross-references them so inconsistencies can be identified. The end result is proactive combating of potential fraudulent activity, and proactive regulatory compliance without the cost of specific solutions built from scratch.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development