Compass joins Cifas to fight fraud
The latest announcement shows Compass’ commitment to fraud prevention
Shining a spotlight on the industry
Monday, 23 Jan 2023 15:59 GMT
Compass works with a variety of companies in the print, packaging, and engineering sectors
Independent finance specialist Compass Business Finance has joined the UK fraud prevention service, Cifas, in order to negate the growing threat of sophisticated fraud and financial crime.
A not-for-profit organisation, Cifas manages the largest database of fraud risk in the country known as the National Fraud Database (NFD), or the ‘Cifas database’.
Cifas has helped members and customers protect themselves from billions of pounds worth of fraud losses since 1988.
Mark Nelson, director of Compass, comments: “Fraud is becoming increasingly prevalent, and we believe, as does Cifas, that effective communication and collaboration is the way to push back against the perpetrators of this type of crime.”
Compass will be providing data to Cifas for the NFD, as well as utilising the database to run checks on individuals seeking funding.
“Our customers will be checked against the NFD, however, this is an entirely internal process and will not impact the ease or speed of delivery that we are known for providing.
“Having open and honest relationships with our customers is vital to us, and we’re confident that joining Cifas will help give further protection to everyone.”
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