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Corporate Identity Fraud

Back in 2018 we wrote to clients to warn them of the increased number of corporate identity cases we were seeing, this newsletter is available here.

In the current economic climate this warning could not be overstated. The fraudsters are exceptionally well organised. They create websites with the fraudulent details, open phone lines, create email addresses, and falsify order forms. They produce ID documents for active directors and in some cases even rent legitimate offices space. It is important to remember that your credit insurance policy does not protect you against fraud. The credit insurer, and bureau will investigate the legitimate company and will not verify if there are fraudsters involved talking over the identity of the company.

It is not only new clients that you should be wary of, but also take time to verify any change request from existing clients, such as a change in contact details, contact person, delivery address details.

Cinque’s new ‘Fraud Check’ product was created to assist clients with these crucial checks as part of their risk management process. This service includes 3rd party verification services to give you peace of mind. As a value add to all of our existing clients, we have also added the Fraud Check product to our Comprehensive Report at no additional cost.

If you would like more information on this product or any other credit reports, please contact your Cinque advisor.