Businesses and fraud solutions

Date: September 27, 2007
Source: money.cnn.com


Equifax Inc. today unveiled enhancements to its fraud portfolio, strengthening its position as a leading provider of fraud prevention and identity verification solutions. New product enhancements include a powerful fraud index score to strengthen online identity verification and the availability of fraud authentication offerings in Spanish.

Businesses attribute as much as 25 percent of their write-offs to fraud, according to the findings of a group of Equifax customers that recently were posed questions on the topic. Based on feedback from more than 200 companies, Equifax has learned that the majority of today's businesses experience fraud through the Internet and other channels such as credit/debit cards and counterfeit documents.

"Faced with mounting regulatory pressures, economic stress and a decline in consumer credit quality, businesses can't afford the consequences of overlooking fraud prevention technology," said Dann Adams, President, US Consumer Information Solutions, Equifax. "Our customers tell us that protecting their own customers, partners and employees from fraud is a top business priority. We're continuously bringing innovation and new technology to our fraud solutions to help them do this."
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