Joint Statement Issued by: CIFAS, Callcredit, Equifax and Experian

CIFAS and the credit reference agencies have declared their strong joint commitment to work, through a new framework, to fight financial crime.

First, CIFAS and the credit reference agencies have been in discussion concerning a change in the way the cost of the infrastructure for the provision of CIFAS data to its members is recovered. Both parties had a number of differences which had been inhibiting reaching an agreement. CIFAS and the credit reference agencies have now reached an agreement that resolves the issues and from 1st January 2006 the agreed cost will be charged across all participating agencies.

Secondly both parties have agreed to hold regular discussions on how the services they provide to members can be improved in a cost-effective and value-added way. They are confident that the agreement made today provides a firm foundation for the relationship between CIFAS and the credit reference agencies to flourish and to deliver benefits to CIFAS members.

Melanie Mitchley, Director of Client & Industry Services says:

"We have a very good relationship with CIFAS and are delighted to have reached agreement over continued data sharing. We regard CIFAS data as a key piece in the jigsaw of information which helps us and our clients to fight financial crime."