Callcredit enhances its anti-money laundering ID system

Credit reference agency Callcredit has launched an enhanced version of CallML, its online anti-money laundering ID verification system.

The new version is simpler and easier to use and references even more datasets for increased verification power.

With electronic verification widely endorsed by the Financial Services Authority (FSA) and Callcredit recognised as a supplier of this by the Joint Money Laundering Steering Group (JMLSG), CallML is already helping numerous companies, including a number of major UK banks and building societies such as Bradford & Bingley (Direct Savings), to satisfy the 'Know Your Customer' requirements of anti-money laundering legislation.

It uses a wide range of approved and independent data sources, including the Electoral Roll and a full credit database, to confirm identities in seconds - 24 hours a day, 7 days a week.

In the new version, CallML's user interface has been redesigned in response to feedback from existing customers. Screen layouts have been simplified to assist users in finding the information they need as quickly as possible. Sources of identity confirmation are divided into clear sections which set out the matching levels that have been achieved for the consumer, while a summary section presents the level of confidence in each match as a graphical display.

CallML's new datasets include:

Directors At Home data identities are checked against a comprehensive list of known company directors.

Fraudulently obtained passports In addition to existing checks in which the format and content of a passport number is validated, CallML now compares the input passport number against a list of passports which are known to be false or fraudulent.

Gone away suppression list The Gone-Away Suppression file provides warnings when a person is believed to have moved away from the address provided.

Non-standard addresses CallML now highlights addresses which are known to be 'non standard 'or unusual - including those of prisons, hospitals, barracks and halls of residence - where you may wish to conduct additional checks or ask further questions.

IP location data If you're operating online application processes, CallML can verify the IP address data (the unique address assigned to your internet connection), and inform you if the applicant's actual location doesn't match with the address provided on the application.

Graham Lund, Callcredit's product director, commented:

"Electronic solutions are now widely accepted as the most cost-effective, reliable and consumer-friendly method of identity verification for prevention of money laundering. CallML is a market-leading solution and the improvements we have made will make it an even more popular choice."

Editors Notes
  1. Source the UK's fraud prevention service CIFAS

Lenders can access the overindebtedness information through Geodebt, one of Callcredit's business to business products.