Tag Archives: Identity Check

Identity Check

Assets, Business, Financial, Financial Services, Money, Security

Battle Against Mortality Fraud Intensifies

In order to offer their customers increased protection against impersonation of the deceased (IOD) fraud, Tracesmart have considerably increased the coverage of mortality data they hold. The consumer data specialists have now incorporated the General Register Office (GRO) death indexes for England and Wales from 1980-1983 into their Tracesmart Corporate suite of services; this being only the beginning of their comprehensive death index digitisation project.

The GRO has collated registers of important civil events, such as births, deaths and marriages, since 1837, but it was not until 1984 that they began to digitise records. All registrations prior to 1984 are held on microfiche. In 2005 the GRO initiated the ‘Digitisation of Vital Events’ (DOVE) project to digitise the birth, death and marriage indexes, but unfortunately following major delays the project was put on hold, with only birth records up to 1934 and death records up to 1957 having been digitised; it is not known when the project will recommence.

Death index data is a pivotal tool in the fight against IOD fraud. With a lack of historical death data available electronically and having acquired microfiches holding all deaths registered in England and Wales covering 1960 – 1983, Tracesmart embarked on a comprehensive death index digitisation project. Utilising an offshore service provider, the company are ensuring 99.95% accuracy on all records digitised through a strict quality control procedure and, when completed in 2010, the project will yield approximately 14,500,000 death records in a digital format.

Tracesmart have completed the initial stage of this project and the 1980 – 1983 death indexes (some 2,500,000 records) have already been integrated into their mortality database. These additions make it both the most comprehensive and extensive commercially available mortality database in the UK.

Whilst the 1980 – 1983 death indexes will be essential for conducting comprehensive identity checks and data cleansing exercises, they will also play a significant role when financial institutions wish to trace people as part of an asset reunification program. From their considerable experience in tracing dormant account holders, Tracesmart know that many of the missing individuals will transpire to have died prior to 1984. Whereas to identify such events previously involved labour intensive research, it can now be done at the click of a button.

Commenting on how the new death records and their ongoing digitisation project will help their customers Mike Trezise, Managing Director of Tracesmart, noted,

“Following on from the integration of death registration information into our anti-fraud services last year, we are continuing to enhance our mortality database. From a service standpoint this data means we can improve and enhance much of our portfolio, especially our identity verification and mortality screening services. This, in turn, allows our clients to better defend against mortality related fraud, protecting both the company and consumer alike.”

About Tracesmart

Tracesmart Limited was formed in 1999 and supplies a diverse range of consumer data cleansing, identity check and people tracing tools to a wide variety of industries. The company’s client base ranges from SME to Blue Chip, who are all recipients of bespoke solutions, built around their specific needs.

Mike Trezise is the founder and Managing Director of Tracesmart. With over 25 years tracing and fraud analysis experience his unrivalled knowledge provides the company with a distinct competitive advantage.

Via EPR Network
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Business, Financial, Financial Management, Financial Services, Money

Identity Check Providers Will Tackle Deceased Fraud Head On

Tracesmart Ltd, leading providers of identity fraud prevention tools and data cleansing services, have today announced that they are the first company to be approved to receive UK death registration information (DRI) as part of the General Register Office’s (GRO) disclosure of death registration information (DDRI) scheme. The DRI will be stored in Tracesmart’s secure data facility and employed in the firm’s range of services which allow their customers to conduct comprehensive identity checks to aid in the prevention of impersonation of the deceased (IOD) fraud – a rapidly growing form of identity fraud.

The Home Office estimate that identity fraud currently costs the UK economy over £1.7 billion a year, so to help tackle this ever growing crime recent legislation includes provisions to combat IOD fraud. Under the Police and Justice Act 2006 and the Local Electoral Administration and Registrations Services (Scotland) Act 2006 the Registrars General for England and Wales, Scotland and Northern Ireland have been granted the power to release DRI to assist in the ‘prevention, detection, investigation and prosecution of offences’. In light of this the DDRI scheme was launched on 16th January 2008 to support the fight against IOD fraud. Administered on behalf of the three Registrars General by the GRO for England & Wales, the DDRI scheme provides successful applicants with an electronic file of deaths registered in the UK on a weekly basis – this will ensure that fraudsters can be quickly identified and dealt with before they can do any fiscal or emotional damage.

Tracesmart will be utilising the DRI in their electronic identity verification and mortality screening services which are employed by a host of different industries as Michael Trezise, Managing Director of Tracesmart, explains, “The majority of businesses can be affected by impersonation of the deceased fraud and as such we provide a variety of services which allow companies to protect themselves and consumers from this threat. Whether it is a solicitors firm conducting identity checks as part of their anti-money laundering obligations or a credit card company carrying out know your customer due diligence, our clients can rest assured that our services will remain in the vanguard of fraud prevention – a fact that is reinforced by our being the first company to be approved by the GRO and our active acquisition of new data.”

Prior to being approved by the GRO, Tracesmart had to fulfil a variety of stringent prerequisites and underwent a full security audit of their site and storage systems. The GRO implemented these measures to ensure that the DRI is only accessed by appropriate persons and organisations for the purposes prescribed by law. The release of DRI is also welcomed by the UK’s fraud prevention service – CIFAS – as their Head of Communications, Kate Beddington-Brown notes, “IOD fraud is unspeakably cruel, adding immeasurably to the grief of bereaved individuals at the worst possible time. The emotional harm and financial strain that it can add to the sadness of bereavement is unimaginable. Having campaigned for years for reform that would put an end to IOD fraud, CIFAS was delighted when the Registrars General responded to the problem by working together to provide a practicable solution. Now that their hard work is finally coming to fruition, we welcome this announcement and are confident that this will help to stamp out IOD fraud once and for all.”

Via EPR Network
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