With the total cost of UK fraud now exceeding £190 billion, the challenges are clear for businesses. As well as the direct and recognised costs, fraud also has significant indirect costs. We recognise that by understanding an individual who commits fraud in one sector can be a powerful indicator for another, so we're launching a multi-sector fraud bureau in the UK: GBG Trust. As well as the major credit institutions, niche markets provide valuable fraud indicators. GBG Trust combines this insight with third party data sources and our own range of unique data assets to give UK businesses access to an innovative and class-leading fraud management solution.
The results in Korea show the power of sharing data - $1 invested in Fraud Bureau gives a return in fraud loss savings of $75. That’s a pretty good investment. The knock-on effect is also a stronger economy – investors have more confidence to invest in a market which has industry co-operative and strong fraud prevention mechanisms in place.
GBG Trust is a unique consortium powered by our unique data assets and world-class analytics technology, then combined with real data from consortium members to deliver an innovative and class leading fraud management solution.Discover more
Louise Lunn, Credit Risk and Fraud Consultant at GBG, leads a webinar discussing the challenges faced in tackling fraud, and how collaboration through GBG Trust can help your organisation deliver early detection and reduction in fraud losses, improved operational efficiencies and increased revenue and profitability.Watch on-demand now