Creditsafe will be working with GB Group to provide a significant upgrade to the Trace, ID Verification (IDV) and Anti-Money Laundering (AML) features built into its online company credit reporting service.
Creditsafe Trace allows users to trace individuals who have relocated or changed their name, providing features such as reverse telephone number look-up, related identity information and a contact appending service. Trace can also be used to confirm contact details, ensuring that the companies which Creditsafe users deal with are always who they say they are.
Creditsafe ID and AML are used to identify individuals and to ensure AML compliance in accordance with Joint Money Laundering Steering Group (JMLSG) guidance. AML can screen individuals against Politically Exposed Persons (PEP) and Sanction data – and provide a clear, electronic audit trail.
David Knowles, Business Development Director at Creditsafe, says companies operating in tough economic conditions need to ensure tight fiscal controls while also meeting regulatory requirements: “We wanted to provide the widest possible set of data to help our customers locate and contact individuals who owe them money.
“Customer due diligence is also imperative for any business that has to comply with Know Your Customer (KYC) or AML regulations. Creditsafe AML provides a full audit trail to demonstrate their compliance. We decided to work with GB Group because it could provide us with the widest possible scope of data for these applications – in line with our own ambition to make company data as transparent as possible to our customers.”
Ryan Morrison, Head of IDV New Business Sales at GB Group adds identity information changes every second of every day: “Increasingly, more businesses are putting identity matters at the very hub of their operations, as a world without borders and an ever increasing mobile population presents new challenges for verifying and maintaining contact with customers.”