ID check history and velocity function set to flag fraud risk

Dec. 2, 2013 - PRLog -- Continuing to enhance its market leading identity verification and anti-money laundering (http://www.tracesmart.co.uk/identify/anti-money-laundering) web-based software, Tracesmart has now incorporated identity check history and velocity into its IDU range of services. Featured in version 3.2 of IDU, this latest addition will help its clients to identify potential fraud before they transact with a prospective customer.

Processing millions of identity checks (http://www.tracesmart.co.uk/identify/identity-checks) every year, IDU now calls upon this wealth of data to provide behavioural intelligence on search subjects. The new ‘Search Activity’ section highlights how many searches have been conducted on a given subject in a specified time period – a high velocity in a short period may indicate fraud. It will also produce a search history; a log of the last fifty searches detailing the date of the search and principal business activity of the organisation that conducted the search, information that is invaluable as Mike Trezise, Managing Director at Tracesmart, highlights:

“The inclusion of Search Activity in IDU adds another dimension of fraud prevention (http://www.tracesmart.co.uk/identify/fraud-prevention) and risk evaluation. High levels of search activity surrounding an individual could be a cause for concern, furnishing our clients with this information will allow them to take appropriate action to protect both their organisation and the potential victim of fraud.

We will continue to develop our IDU suite to ensure that our clients have a diverse range of identity verification and fraud prevention tools at their fingertips.”

Version 3.2 of IDU also features several other enhancements. Information on any UK Company Directorships the search subject holds are now included in the report, as well as details of any other appointments at the given company. Additionally, the interface can be customised and aligned with the client organisation’s branding; functionality that has proven popular in several of Tracesmart’s products. Chris Rothwell, Sales Director at Tracesmart, notes the importance of this new feature:

“We understand the value of brand – not just in terms of its client facing power, but also the significant role it plays within a company. It provides an identity and has an important role in employee productivity – if they feel they are part of the brand, it stands to reason that they will be better engaged with the company they work for. By introducing the ability to customise IDU to reflect the client’s branding, we believe we are helping to fuel this engagement, allowing our clients to make the product their own.”

ENDS

Notes to editors:

About Tracesmart

Established in 1999, Tracesmart Ltd is a leading provider of consumer data services, specialising in the provision of online tracing and identity verification software. Prominent in the collections, legal, financial and fraud prevention sectors, the company’s solutions are employed by a growing legion of businesses ranging from SME to FTSE 100 listed companies.

Mike Trezise

Founder and Managing Director of Tracesmart, Trezise has extensive experience in tracing and fraud analysis and prevention; knowledge which provides the company with a distinct competitive advantage.

Chris Rothwell

Heading up the corporate sales team, Rothwell has an insightful knowledge of data analysis and tracing. This understanding allows him to direct the development of products designed specifically to fulfil these requirements and provide the company’s client base with innovative technology.