Equifax 2002 Annual Report Download - page 18

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FRAUD, SAFETY & SECURITY
Now more than ever, it is critical to the well-being of millions of citizens to verify identification, to screen individuals and transactions,
to understand risk-relevant information and to track the movement of funds. Equifax is a “one-stop shop” uniquely positioned to help our
customers establish “best practices”– through our extensive databases, the advanced modeling and analytics of our technology and the
integrity of our organization.
THE OPPORTUNITY TO HELP
The world has changed since September 11th
and with this change comes a renewed focus on
security, identity verification, and fraud detection
and prevention. Indeed, one of the cornerstones
of our government’s war against terrorism is to
pursue perpetrators by tracing and terminating
their financial lifelines. The USA PATRIOT Act
will further this effort by placing added responsi-
bility on financial institutions and businesses
that operate in high-risk arenas to know exactly
who their customers are. For decades, Equifax
has been the leader in developing a full suite of
solutions that provide businesses and government
agencies with tools and risk-relevant information
solutions to help them manage their fraud and
business risk as well as facilitate compliance.
KNOW YOUR CUSTOMER
Equifax has developed online and offline solu-
tions to provide customers with a “one-stop
shop” for addressing regulatory and business
requirements to mitigate risks. We offer consul-
tative services to assist customers in selecting
from a number of identity verification and fraud
detection products that meet their particular
needs – products that they may not have access
to on their own. Among these are a patented
authentication solution, eIDverifier®, which was
specifically designed to minimize the risk inherent
in remote, non-face-to-face transactions. Equifax
has also developed its OFAC AlertTM product that
automates and streamlines the often costly, time-
consuming and cumbersome process of screen-
ing against the Office of Foreign Assets Control’s
lists of Specially Designated Nationals and
Blocked Persons. Other efforts under way include
assisting the British government and the U.S.
Transportation Security Administration with
screening activities.
Well before the events of September 11th,
Equifax took an active role in discussions that
resulted in the formation of the Regulatory
DataCorp, Int’l. LLC (RDC), formed by selected
major banks and brokerage firms, and the devel-
opment of Global Regulatory Information
Database (GRIDSM) – a comprehensive security
information solution. Because of our data man-
agement experience, proprietary search/match
technology, comprehensive information assets
and expertise obtained through the strategic
acquisition of the Compliance Data Center (CDC)
The essence of our emerging fraud, safety and security initiative is
about protecting citizens, reducing threats and saving lives. In no other
area does The Equifax Difference matter more.
14
One of the cornerstones of our
government’s war against terror-
ism is to pursue perpetrators by
tracing and terminating their
financial lifelines.