Financial institutions provide a nearly endless list of valuable and vital services, from credit cards to mortgages to college loans and more. The goal of providing services like loans is to give people the opportunity to pay for certain things at the time they need to even if they do not currently have the necessary … Read more
A key part of reducing risk and maintaining strong business relationships is being able to access information to know your customers (KYC), vendors, and third-parties. Not only is gathering information about these people important for customer due diligence and customer and vendor risk assessment, but it helps you implement better procedures in your business for … Read more
Collections is a constantly changing landscape — collection agencies deal with changing consumer data and a variety of different parties, all while having to maintain compliance with different debt collection regulations. There are a lot of factors collection agencies have to deal with in terms of risk management, but one factor you can control is … Read more
If you’ve ever read a private investigator book or watched a private investigator TV show or movie, you’ve likely heard a number of different terms used by private investigators. Some terms you may have known right off the bat, and others may have left you wondering, “what does that even mean?” Because private investigation has been … Read more
When you think of fraud, you likely think of someone stealing another person’s information in order to get a loan or credit to buy certain products. This specific kind of fraud is called third-party fraud, and it has a clear victim — the person whose identity is stolen. Most fraud prevention techniques and tools are focused … Read more
Collections can be costly — collections agencies need to pay their employees, pay for software, pay for postage and other forms of communication, pay for data acquisition, and more. Employees tend to be one of the greatest costs for debt collection firms because they need to pay their employees salaries, bonuses, and benefits. However, employees … Read more
Customers are the foundation of any company. Without a comprehensive understanding of who your customers are, it’s hard to make informed decisions about how to grow — like who to target, what services to provide, and how to best provide these services. While every business gathers some information about their customers, many do not take … Read more
For legal professionals, doing your due diligence, whether it’s on the client, opposition, or case in general, is a necessary but tedious task. If you don’t assess all sources of possible risk, you may walk straight into surprises in the courtroom that could hinder your strategy. Due diligence not only helps you mitigate risk and … Read more
No financial institution wants to deal with overdue debts, especially when a payment is long overdue and becomes a bad debt. However, essentially any company that extends credit has to deal with collections at some point or another. Some creditors may try to do fdcpa first-party collections through an in-house collection branch. If a financial … Read more
Private investigators are basically professional information finders (if you want to learn more, check out our blog post “What is a Private Investigator?”). As experts at getting information no one else can, they get hired to use their investigative tactics to help people and companies solve problems and get answers beyond just the traditional criminal … Read more