Understanding the Importance of CIFAS Checks for Safer Business Practices

Fraud protection is vital in today's fast-paced corporate environment. That's where CIFAS, the UK's premier fraud prevention community, can make a significant impact. CIFAS enables organisations to work together to prevent fraud before it occurs by exchanging critical data, insights, and information across industries.

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What is CIFAS Check

A CIFAS check allows businesses to verify an individual's fraud history against a national database. This can assist companies and organisations identify people who have been engaged in prior fraud instances, adding an extra layer?of security. It is a tool that may provide essential insight into potential risks when making hiring?or business decisions.

CIFAS maintains two essential databases:

• National Fraud Database (NFD)
• Enhanced Internal Fraud Database (EIFD)

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What is National Fraud Database (NFD)

For organisations seeking to improve their fraud prevention tactics, becoming a CIFAS member provides access to useful tools such as the National Fraud Database (NFD). This is how it works:

1. Eligibility: To have access to the NFD, your organisation must have both first-party and third-party fraud risk data.
2. Real-Time Data Sharing: The NFD is constantly updated, with thousands of new records uploaded every year. This assures that CIFAS members may share intelligence online at any time, day or night.
3. Community Collaboration: All CIFAS members report instances of fraud to the NFD. This collaborative effort allows participants to search against?a comprehensive?pool of data.
4. Case Creation: When a CIFAS member finds a match for fraudulent activity in the NFD, they may confirm the fraud and build their own case, therefore strengthening their protection mechanisms.

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What is Enhanced Internal Fraud Database (EIFD)

The Enhanced Internal Fraud Database (EIFD) is the only private database in the United Kingdom dedicated to tracking instances of dishonesty by job applicants and employees. Employers and recruiters may use this resource to detect possible dangers and take proactive actions to prevent them. Here’s how it works:

1. Membership Requirements: To become an EIFD Sharing Member, your organisation must either possess employee and job applicant data or participate in the hiring and screening of employees for other organisations.
2. Data Sharing: Once a member, your organisation will have access to a full record of dishonest behaviour reported by other employers. This contains cases of fraud, dishonesty, and other unethical behaviour.
3. Informed Hiring Decisions: By reviewing this data, employers can make more informed decisions during the hiring process, reducing the risk of bringing individuals with a history of dishonest conduct into their workplace.

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Why You Should Care About CIFAS Checks

• Fraud Prevention: Detect fraudulent actions involving employees or customers.
• Reduce Risks: By screening individuals, you reduce the possibility of fraud affecting your business.
• Informed Decision Making: Access to thorough reports enables you to make confident and secure business decisions.

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Benefits of CIFAS Reports

• Comprehensive Data: Get access to national fraud databases that include confirmed cases of financial fraud.
• Easy to use: Complygate's platform allows for quick and easy checks.
• Cost-Effective: Investing in these checks today will help you avoid future fraud damages.

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Stay Protected with Complygate

If you want to keep ahead of fraud, a CIFAS Check is essential. With thorough reports, you'll have a better idea of who you're working with, whether it's employees, customers, or partners.

?Want to learn more? Discover how Complygate can help secure your business with CIFAS Checks here .