Cifas

Cifas

Founded: 1988
HQ: London / United Kingdom

Cifas is a not-for-profit fraud prevention membership organisation managing the largest confirmed fraud database in the UK. Cifas seeks to create a non-competitive fraud prevention environment through collecting, aggregating and sharing fraud risk information across all sectors of the economy and across the globe.

Industry
  • Financial Services
  • Ecommerce
  • Insurance
  • Telecom
Primary Functionality
  • Data Provider & Verification
Fraud Type
  • Account Takeover
  • New Account Fraud
  • Synthetic Identity Fraud
  • KYC & AML
Technology
  • Rules Engine

Reference Customer

Lloyds Banking Group

Santander

HSBC

Capital One

American Express

 

Integration

Experian Decision Analytics

Synectics Solutions

TransUnion

TruNarrative

GB Group

Fraud Solution Profile

Cifas exists to fight fraud. We have been doing it for 3 decades and we save our members over £1bn a year. We are a trusted data aggregator providing a non-competitive and cross sector fraud data consortium.  Our 450 members drawn from banking, insurance, telecoms, and consumer credit contribute data to two unique and bespoke databases that we operate – the National Fraud Database, which contains over 4 million records of fraud intelligence relating to identity fraud, misuse of facility, asset finance, insurance and facility take over fraud – and the Internal Fraud Database, which captures records of insider fraudsters.

Using our bespoke data sharing platform our member organisations share data and intelligence with each other in real time and online, 24 hours a day, seven days a week. As a reciprocal data sharing arrangement our members commit to provide data and file cases of fraud and in return, members receive the benefit of searching the databases. Cifas provides this service by utilising industry leading technology to provide a fast, flexible and secure real time system with advanced data matching capability. By utilising the latest cloud technology, Cifas systems are able to analyse vast amounts of data in real time and provide users with accurate and relevant information. That information not only helps members to prevent fraud from occurring, but it also protects individuals from become victims of fraud. Cifas provides organisations with a variety of ways to integrate the service within their own systems, including APIs, an online portal and batch services. Most users have Cifas embedded into their on-boarding and customer management systems or can access Cifas data alongside a credit reference check by Experian, Equifax or TransUnion or integrated into fraud prevention solutions such as Hunter or SIRA or Trunarrative.

Our data matching rules extend beyond simple name, address and date of birth matches to include contact details, financial details and device identifiers. We have embedded case link visualization software and algorithms run across searches against our system create location based alerts and identity fraud alerts.

Over 300,000 confirmed fraud cases are currently being added to our databases every year. The principle of cross-sector collaboration through reciprocal data-sharing is what makes Cifas unique. It is why we are the UK’s most successful fraud prevention network and a trusted partner of the UK Government.

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