Call us 0333 370 4333
13/03/24

CIFAS Marker Removal

CIFAS Marker Removal
Share

CIFAS (Credit Industry Fraud Avoidance System) is a non-profit fraud prevention service established to safeguard individuals and organisations from both internal and external threats of fraud and financial crime. Its membership spans across various sectors, encompassing banks, lenders, insurers, and other financial institutions.

Data is housed within two primary fraud prevention repositories: the National Fraud Database and the Internal Fraud Database. This information is then disseminated to both members and customers. When a financial services organisation detects potential fraudulent behaviour from a customer, it will notify CIFAS, which will proceed to flag that customer with a CIFAS 'marker'.

Financial institutions factor in the existence of a CIFAS marker when assessing any financial dealings with their clients. Such markers may significantly impact the customer's ability to access assorted services, including mortgages, bank accounts, or mobile phone contracts, potentially leading to prejudicial outcomes during their application process.

CIFAS Markers

General nature

CIFAS markers serve as cautionary flags, allowing institutions to alert each other about potential risks associated with specific customers. These markers are registered within CIFAS National Fraud Database.

The presence of a CIFAS marker may:

  • prevent obtaining a mortgage, loan, finance, or insurance,
  • result in the closure of your bank accounts,
  • may affect job applications,
  • create trading Issues for your any company or business.

Classification of Markers

CIFAS markers last for varying periods of up to six years according to their classification as one of the following:

  • Victim of Impersonation: designed to counter identity fraud,
  • Protective Registration: for those who suspect they have been a victim of fraud,
  • Misuse of Facility/account: where there has been unauthorised access to another’s account,
  • First Party Fraud: covers obtaining goods or services with intention to avoid payment,
  • Facility/account Takeover: following unauthorised control and conduct of an account,
  • Insurance Claims Fraud: providing fraudulent information supporting an insurance claim,
  • Application Fraud: providing fraudulent information to support a credit application,
  • Asset Conversion: arises when hired or rented goods are illegally sold.

Removing a CIFAS Marker

Many individuals or organisations may not realise that a CIFAS marker has been placed against them since financial institutions are not legally obligated to disclose this information. However, those who are aware can contest a marker using the following approach:

  • A CIFAS report is acquired, providing comprehensive details regarding the allegation and its source.
  • More detailed information requested from the institution responsible for placing the marker, can be challenged. Although there is no obligation to provide anything other than bank statements.
  • Upon receipt of such information, or a refusal to supply, detailed representations can be presented to the institution showing why the marker should be removed.
  • The institution will issue its response and if it refuses to remove the marker, representations can be submitted to CIFAS which must respond within fourteen days.
  • If CIFAS also refuses to remove the marker, complaint can be made to the Financial Ombudsman Service.
  • It may be possible to seek a Judicial Review or a Court Injunction.

How Can We Assist?

CIFAS marker removal demands meticulous attention and intricate comprehension of the process. Merely contesting it as 'unfair' will not suffice. A thorough and persuasive argument backed by relevant supporting documentation as evidence is indispensable.

The skilled professionals at KANGS bring extensive expertise in managing applications to remove CIFAS markers and would be delighted to offer guidance and support to you.

If you need assistance, simply call, or email us using the information below:

Telephone: 0330 370 4333

Email: info@kangssolicitors.co.uk

Tim Thompson

Tim Thompson
Partner

Email Phone
Nazaqat Maqsoom

Naz Maqsoom
Associate

Email Phone
John Veale

John Veale
Partner

Email Phone
Civil Fraud, Criminal Litigation
Self-incrimination arises when an individual makes a statement or discloses information which exposes that person to the risk of criminal proceedings. Privilege against self-incrimination provides a level of immunity to a person from being compelled to produce documents or provide information which is potentially self-incriminating in any court proceedings. The term ‘privilege against self-incrimination’ comprises […]
10/07/24
Cryptocurrency, Financial Investigations, POCA
Since the Proceeds of Crime Act 2002 (POCA) was introduced, essential amendments and additions have been made. These changes, which have been discussed in previous articles, enable the legislation to keep abreast of the changing requirements of society and the operation of financial markets. One such requirement is the need to cater for the arrival […]
13/06/24
Financial Investigations, Serious Fraud
The Economic Crime and Corporate Transparency Act 2023 ('the Act') is UK legislation aimed at strengthening the government’s ability to combat economic crime and enhance corporate transparency. Key provisions of the Act include, increased reporting, enhanced protections for whistleblowers and tighter regulations on the formation and operation of companies, amongst other things. Additionally, the Act […]
10/06/24

Get in touch

Need legal assistance? Contact our experienced team for prompt and professional support.
Old map of Birmingham