Experian Cerved Fraud Prevention new LogoThe phenomenon of online fraud is evolving rapidly and represents a global threat, which generates estimated total losses at about 3,800 billion euro per year. 

According to recent research from Experian, DV2020, the phenomenon will grow significantly in the next five years in Italy: according to forecasts, the number will double by 2020 fraud, identity theft will increase by 60% and the identity fraud 49%;69% of financial and telecoms considers the limited availability of data as one of the main barriers to the implementation of an ‘effective fraud prevention strategy. Use multiple data sources was in fact identified as one of the key areas to pursue the objective of improving fraud prevention strategies while simultaneously maximizing the customer experience.

To deal with this threat and respond coherently to the market, Experian and Cerved have joined forces to make more effective anti-fraud safeguards for financial institutions, providing end users a greater number of data and then cross-checks. To this end, the findings of Scipafi data, the public system to prevent fraud and identity theft of the MEF, will be accessible directly from the subjects also authorized by the application Visius, the Cerved technical solution aimed at strengthening the means of control optical anti-money laundering.

Angelo Padovani, Managing Director of Experian Cerved said: ” We are committed in helping companies prevent identity theft and SCIPAFI is an important element to protect firms and financial institutions from identity theft, especially when this information is coordinated with other sources, internal or external: in this sense, we are convinced that the partnership between Cerved and Experian, leveraging SCIPAFI, will enable significant benefits to customers . “

Marco Nespolo, Director General of Cerved added:” With Visius, we enable our customers to fulfill their obligation of due diligence purposes AML with a single query, consulting external sources, such as SCIPAFI , along with other customer-owned data.  This is all in accordance with the unique operating requirements of each operator and enhancing their already adopted technical solutions. “

Source:  Experian Press Release