Fraud Prevention Checks

Detect and block high risk customer applications to minimize risk of fraud

Losses due to fraud can have a devastating effect and threaten business survival for many organisations. Fraudsters are increasingly targeting businesses using sophisticated techniques such as social engineering in order to commit financial crime. In 2018, losses due to unauthorised financial fraud totalled almost £732 million according to UK Finance. To remain compliant with the latest anti-money laundering (AML) legislation, effective fraud prevention and due diligence measures must be in place to verify both corporate and individual customers.

W2 provides businesses with the capability to carry out detailed checks in real-time to help organisations meet their Know Your Customer (KYC) and AML obligations for UK and international customers. These electronic checks allow you to screen and verify customers at the point of onboarding and at any frequency during the relationship for ongoing screening and monitoring purposes. All checks that have been carried out are stored for audit and compliance purposes.

Verify details and stop fraud before it impacts your business

A proactive approach to preventing fraud works best when processes are embedded at the start of the customer journey during onboarding and continues throughout the lifetime of the customer relationship. By avoiding new customers that might pose a higher risk to your business, you can significantly reduce the risk of fraud from occurring.

W2’s fraud prevention solutions enable the highest levels of protection against many common threats. UK and International address verification services warn against fake names and addresses. To further reduce the risk of fraud, email addresses can be analysed using various criteria such as age, location and frequency of use and whether it has been linked to any previous fraud cases. Similar checks can be applied for advanced verification of UK mobile, landline and international phone numbers. Detailed examination of profiles on common social media platforms enables detection of spoof or synthetic identities that can be used by fraudsters.

Email Risk Assessment

This service helps stop fraudsters while approving good customers. With email risk assessment, you can streamline approvals without the friction of asking for additional validation information.

Address Lookup

UK & International Address Lookup with NCOA® Alert file can help businesses identify suspicious activity at the point of an application for a product or service. The data is highly effective at reducing the risk of fraud.

Unusable and Salacious Names Removal

This service helps stop fraudsters while approving good customers. With email risk assessment, you can streamline approvals without the friction of asking for additional validation information.