Support and advice
In addition to providing products for clients and directly to consumers we provide a range of support and advice services. Developments this year have included:
Data dispute console
Introduced this year, the service gives clients instant online access to all disputes raised from consumer queries regarding their data, achieving quicker resolution of consumer disputes and improving data quality. The service is free of charge; clients will only pay for amendments.
Red Flag webinar
Red Flag rules went into effect in the US in January 2008 as provisions of 2003’s Fair and Accurate Credit Transactions Act (FACTA). They require credit-granting institutions to establish procedures to detect, prevent and mitigate identity theft in connection with their customer accounts. Full compliance is required by November 2008. A recent Experian Webinar provided information to institutions interested in learning more about Red Flag rules to help them decide what action to take.
Victims of Fraud Service
In August 2007 we announced that we had helped our 10,000th individual through our service, which is dedicated to providing expert advice on how to mend the damage caused by fraudsters. We’ve been running the free service since 2003. Support includes a free credit report, access to a specialist caseworker and regular reports on changes being made to clear the credit report.
CIFAS
Credit reports contain a wealth of important information that can be useful to a fraudster. We are careful about ensuring we send them out only to the individual concerned. Experian is a member of CIFAS, the UK’s Fraud prevention data sharing scheme. When we receive a fraudulent request for a credit report we set up a fraud warning with CIFAS, thereby warning clients so they can be alert to any other applications from the same address. Over the past year we have lodged 423 warnings, which is very high by comparison with our competitors in the UK.
Debunking Credit folklore
In 2006 our CreditExpert business, Experian’s paid for online credit monitoring business in the UK, commissioned research to find out how much, or little, the general public understand the credit rating process. The main findings include the fact that more than 40% don’t understand the reasons behind the refusal for a loan. We also provide a wide range of advice leaflets and brochures available through consumer organisations in the UK and Ireland, US and Brazil as part of our consumer education programme.
