Compass Business Finance has joined UK fraud prevention service Cifas, which manages the National Fraud Database (NFD). Compass will use the database to run checks on those seeking funding and will now provide data to Cifas for the NFD.
Compass director of Compass Mark Nelson said of the move: “Fraud is becoming increasingly prevalent, and we believe, as does Cifas, that effective communication and collaboration is the way to push back against the perpetrators of this type of crime.
“Our customers will be checked against the NFD, however, this is an entirely internal process and will not impact the ease or speed of delivery that we are known for providing. Having open and honest relationships with our customers is vital to us, and we’re confident that joining Cifas will help give further protection to everyone.”
