Early Warning facilitates the secure exchange of information and knowledge between organizations and offers solutions for responding quickly to evolving fraud challenges.

Internal Fraud Prevention Service

The Internal Fraud Prevention service helps identify job applicants and employees who were released by another financial services organization because they knowingly caused or attempted to cause financial loss. New applicant screening through this service assists organizations in their fight against insider fraud.

A Partnership with BITS

After extensive research on the feasibility exchanging fraudulent employee information, the BITS Fraud Reduction Steering Committee and the BITS Shared Database Working Group chose Early Warning Services to build and manage this service. Both of these organization’s members are among the most senior fraud prevention and risk management experts in the financial services industry.

BITS is the Technology and Business Strategy Group of The Financial Services Roundtable. To learn more about BITS, visit their web site at www.bitsinfo.org.

The Competitive Difference

Early Warning maintains a common platform and safeguards the National Shared Database to allow financial services organizations to contribute and share information for the purposes of detecting, preventing and deterring fraud. Unlike other fraud prevention services, Early Warning serves in a Trusted Custodian role. In this capacity, the database is governed by a set of strict Operating Rules, created and adopted by financial institutions, which clearly define acceptable criteria for contributed fraud and account abuse data. Early Warning also supports consumers' rights to dispute and correct inaccurate or incomplete information furnished to Early Warning in accordance with the Fair Credit Reporting Act (FCRA).

For more information on the Internal Fraud Prevention service, please contact us.