The fraud problem continues to grow globally. The increased use of online and digital channels makes access to products and services quicker and easier for genuine consumers and fraudsters alike, and it is more important than ever to protect against fraud losses and collaborate across the industry to drive away the fraudsters and increase your profits.
As more and more credit providers, telcos and government agencies understand that fraudsters target the whole industry together rather than opportunist strikes at individual parties, cross-company data sharing is providing a joint solution to a joint problem. Already, studies have shown that clients participating in a national fraud prevention scheme can achieve at least a 45 percent uplift in their fraud detection when compared with a solution that only uses their own data.
Experian’s National Fraud Prevention Scheme is an anti-fraud data sharing system for the purpose of fraud prevention. Powered by Experian’s sophisticated Hunter fraud detection software, it screens application data in real time against a shared pool of fraud data amongst a closed group of members from a particular industry sector or across sectors on a country basis. Available as a hosted solution or easily integrated into internal application processing systems, National Fraud Prevention Scheme maximises the data and intelligence available to all members for fraud prevention, protects the members’ industry from suffering repeat fraud attacks and prevents taking on high risk customers.
Experian’s NFPS: The collaborative approach to fraud prevention
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