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Identity Crime Group Needed

Identity Crime Group Needed

Baycorp Advantage has called for the formation of a national group to address the predicted rise in identity crime in the 21st century.

New Zealand Country Director John Roberts recently hosted and led a combined industry and government discussion to explore the best way forward.

“As an expert analytics organisation, we’re interested in finding the smartest way of using data, managing privacy and minimizing the risk of identity fraud in our century” says Roberts.

Baycorp Advantage’s concerns were reflected in its recent SME Invoice Payment Cycle survey where 29% of experienced small business operators expressed their concern at the rise of deliberately fraudulent business-to-business behaviour.

“We have to find a solution. The fact that one individual with 120 identities can defraud the Department of Social Development of $3.2m shows the potential for fraud if there is no facility to check multiple identities. This is where we believe the Bureau has an essential role to play.”

“The rise in data collection that has followed the emergence of the electronic age is staggering. However, the inability to integrate the held detail into a meaningful bureau designed to minimize identity crime and the rising prevalence of fraud is highly frustrating for those of us in the management of credit bureaux, financial services industries and, we believe, government agencies,” Roberts added.

“We need to find a balance between protecting people’s privacy and the ability to provide a better way to verify true identity as we become more dependent on an electronic-based economy.”

Roberts said that Baycorp Advantage will continue to host and lead industry discussion on the subject.

ENDS

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