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Cattles/welcome In Big Trouble


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Fighting Endemic Fraud

 

In the United Kingdom, attempts to commit fraud by including material falsehoods on application forms for insurance products (as well as loans and credit cards) rose 13% to total 21,780 cases in the first quarter of 2008, up from 19,239 from the year-earlier period, according to CIFAS, a fraud prevention service based in London.

"The increase in application fraud (often to hide adverse credit history) demonstrates that because people are getting into debt earlier, and because the 'credit crunch' has diminished their access to finance, they are now resorting to fraudulent applications for funds," says Peter Hurst, the company's chief executive.

Fair Isaac, for one, has seen escalating interest in fraud technology in the U.K. "Right now the market is kind of forcing insurers to get more and more on top of this," says Mike Gordon, VP of emerging industries for the technology supplier.

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Fighting Endemic Fraud

 

In the United Kingdom, attempts to commit fraud by including material falsehoods on application forms for insurance products (as well as loans and credit cards) rose 13% to total 21,780 cases in the first quarter of 2008, up from 19,239 from the year-earlier period, according to CIFAS, a fraud prevention service based in London.

"The increase in application fraud (often to hide adverse credit history) demonstrates that because people are getting into debt earlier, and because the 'credit crunch' has diminished their access to finance, they are now resorting to fraudulent applications for funds," says Peter Hurst, the company's chief executive.

Fair Isaac, for one, has seen escalating interest in fraud technology in the U.K. "Right now the market is kind of forcing insurers to get more and more on top of this," says Mike Gordon, VP of emerging industries for the technology supplier.

 

Sorry more drivel perpetrated by the finance industry often to justify them increasing their charges.........Anyone with half a brain cell knows you can't give inaccurate info & get away with it unless of course you've nicked someones ID but I don't think that's what we are talking about here and there's no otherway to conceal an adverse credit rating

 

Every answer you give is crossed referenced with a multitude of data bases held by every tom. dick & ID thief so get just 1 question wrong then the hoots & flags start up making it appear you have tried to obtain finance fraudulently......... and that ain't the end of it as that one 'mistake' will hound you each time you try to obtain ANY financial product including a loan, mortgage, insurance and employment & YOU won't know anything about it ..... just that you keep getting knocked back for a loan, mortgage, insurance and worst of all employment

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