Credit reporting firm Kroll Factual Data has released TruAlert, a risk detection package designed to help firms comply with the anti-money laundering and customer identification regulations of the USA Patriot Act.
TruAlert is a suite of three risk detection products, developed to help clients verify the identity of their customers.
The package consists of a RiskID module which scans for inconsistencies in a customer's history to help identify fraudulent information. The system checks that information provided has been used historically in conjunction by the individual.
SocialID is a social security number (SSN) search that provides users with details of when and where the SSN was issued and whether the number has been reported as deceased.
In addition, an OFAC Compliance search cross-checks customer names against the US Treasury Department lists of known or suspected terrorists.
James Donnan, senior vice president, Kroll Factual Data, says: "TruAlert is an ideal service for mitigating losses due to identity theft as well as for facilitating compliance with the final Customer Identification Programme regulations defined by Section 326 of the USA Patriot Act."