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FRAUD DEFENDER - Verify the information on your application

IS THE APPLICANT WHO THEY SAY THEY ARE?

Placing the right person in the right vehicle is the key to reducing delinquencies and paramount to the success of a well organized collection team.

As the old adage goes; “you can’t get blood out of a turnip” - - thus, “Make Sure The Applicant Is Who They Say They Are”, - - before they drive your vehicle off your lot.

Our 15 MINUTE response time data research report is provided by fax or email by one of our assigned data search annalist - - this happens while the applicant is at your dealership and waiting your final funding decision.

HOW THE DATA VERIFICATION PROCESS WORKS

Step One: We need to verify that your in business. This one time process takes only a few minutes.

Step Two: You can fax a request or use our WEB based request form to research an applicant.

We need the applicants social security number, full name, primary phone number on application, (try to acquire a land line number if possible), and current address. Depending on the type of report you need – there are several – we may need more information.

Step Three: We fax you our findings in minutes.

Things to look for in the findings:

Social Security:

Does the SS# issue date match the applicants name and the birthday of the applicant as stated on the application?

Do the addresses and dates found on the social security pull match the time frame and locations as stated on the application?

Phone number:

What name does the data search show for this number?

If available, what address and or time frame does the data search show for this number?

Recommended: If not the name of the applicant, do you see this name on the reference list? If a different name, make sure you find out the relationship of this individual to the applicant. If a different address then on the application find out why.

Address:
What name and time line does the data show attached to this address?

Recommended: Using the application; compare the time frame that the applicant states they lived at their current address against that showing on the data pull. Compare that time frame against recent address data shown on the social security number pull. If the address search is not under the applicants name is the name on the address pull used by the applicant also in their reference list. If not on the reference list it is a good idea to ask the applicant if they know the individual on the data pull and their relationship. Keep in mind that data is not always accurate and should only be used as a tool to help measure risk.

PLUS our Level Two Risk Control and Fraud Detection offers a wealth of information on an applicant. This report includes an Instant ID Risk Gauge with Fraud Indicator Report.

It includes an address search, a social security search, shows others using the SSN, the date and location, a phone search to compare the listing information and the address attached to the phone number. This can be compared to information provided on the application and can show time sequences that can be compared with data on an application including bankruptcy filings. This tool is used by thousands of skip tracers nation wide to help in verifying and locating consumers. The additional instant ID risk and fraud indicator performs multiple verification and validation steps to confirm the identity of an individual. It performs cross checks from name, address and phone records. The results also identify matches to the Office of Foreign Asset Control, social security risk indicator as well as higher risk commercial or institutional addresses.

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