Identity checks

With criminals finding more inventive ways to assume another person’s identity, are you confident that your identity check procedures are robust enough to protect your company? Manual identity checks are not enough, with forged documents becoming harder to spot and many more remote dealings taking place.

However, a new sophisticated generation of identity checks has emerged, allowing you to “Know Your Customer” instantly. Electronic identity checks are being adopted by many companies and IDU–KYC from Tracesmart Corporate is one of the most powerful electronic identity check solutions in the UK.

UK identity checks

Identity fraud accounted for nearly half of all the fraud conducted in the UK in 2010 (source: CIFAS); as such any company which could be at risk should ensure they have stringent identity checks in place.

Occurring when transactions take place via phone, mail or internet, “Cardholder not present” (CNP) fraud continues to be a threat to UK businesses and consumers alike. Therefore, it is essential that companies who take payments without the customer present make sure they implement robust identity checks to protect their brand, the consumer and ultimately their bottom line.

Companies within the finance sector are subject to anti-money laundering regulations. Identity checks are an essential part of due diligence processes, but with traditional identity checking methods being costly and time consuming, more firms are turning to instant and cost-effective electronic identity verification.

Solicitors also have obligations to comply with anti-money laundering regulations and, along with their staff, are obliged to report any suspicious activities. Identity checking clients provides them with the confidence that they are dealing with legitimate persons.

Identity check solution

Tracesmart Corporate’s IDU–KYC identity check solution will allow you to protect your business from fraud, and if you need to conduct anti-money laundering checks, IDU–AML is the ideal service.

Both systems can be trialled with no-obligation – contact us today to claim your free trial.