CBA Adds Fraud Identification Tool To Credit Reports.(CBA Information Services)(Brief Article)

CBA Information Services has added new fraud identification tools to its merged credit report product, the Pyramid Report.

CBA said it was adding the tools in response to demand from customers for protection against fraudulent loans in mortgage portfolios.

The fraud detection features are included with CBA's standard one, two or three-bureau merged credit reports.

The fraud identification tools come directly from the three credit repositories, Experian, Transunion and Equifax. The focus is on quickly identifying fraudulent information such as false names or addresses and untrue social security data provided by the loan applicant.

If a discrepancy is found between the information on the loan application and the repository data, an alert message is triggered spotlighting the "fraudulent" information.

Walther Wojciechowski, chief executive officer of CBA, said the new fraud alert program is an effort to ...