The South African Fraud Prevention Service, a nonprofit organisation, was founded by 12 of SA's major banks and retailers in a joint effort to combat the country's fraud menace. Since its inception in April 2001, the company has successfully stopped many fraudsters in their tracks - saving its members (and ultimately the consumer) hundreds of thousands of rands.
Now, members can look forward to even greater victories in the fight against fraud as South African Fraud Prevention Service reports the addition of a further fraud prevention system to its portfolio of services.
In conjunction with MCL Software in the United Kingdom, with technical support being provided by both MCL and Octagon Business Solutions in South Africa, SAFPS will shortly commence a daily application and claims analysis service using the Hunter system, which has been developed by MCL.
Hunter works by automatically checking new applications and claims against themselves, any previous applications or claims, suspect information and known fraudulent data. All applications are individually checked in a variety of ways according to user-defined search algorithms, and then checked against Hunter's main application database. Suspect and other reference files are simultaneously checked before final inclusion of this data into the system's main database. Hunter also links with the i2 analysis software to enable SAFPS to identify fraud syndicates and fraudulent applications for credit and to provide a complete fraud prevention system.
For more information contact Pat Cunningham on 011 838 2453, e-mail: email@example.com
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