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Transparency

Experian, TransUnion Start Adding Rent Payment Data

Consumers who have made on-time rental payments had been frustrated that their histories didn’t count in credit scores.  The non-reporting of key credit records is costly to renters, economy as a whole. Why?  Because the landlord, phone and cable companies, and many other creditors don’t report your payments to Equifax, Experian or TransUnion, the big three credit bureaus. In the ... Read More »

Experian and Capita Partner in Rental Exchange Project

The Experian – Capita partnership will enable housing providers to share their tenants’ rental payment information quickly and easily Experian® has partnered with Capita’s software services business, to enable easy and efficient collection of social housing rental data from social housing providers.  By sharing rental data, social housing providers will play a key role in helping their tenants gain access ... Read More »

India: Ministry of Corporate Affairs to Enforce Disclosure Compliance

India ramps up its enforcement of compliance in regard to accuracy and timeliness of company filings.  The Ministry of Corporate Affairs says that incorrect information in company filings to attract strict action!  This is a long overdue move to improve transparency. To curb instances of companies submitting misleading information in their filings, the government has said that strict action will ... Read More »

Experian Launches New Offering to Help Government Agencies Identify and TRAP Tax Fraudsters

Tax Return Analysis Platform(SM) (TRAP) goes beyond identity verification to offer device-proofing, catching fraud before refunds are processed. Experian announced the launch of the Tax Return Analysis Platform(SM) (TRAP) — a new offering that will enable federal and state revenue offices to detect fraudulent tax returns that have been submitted using stolen identity credentials. This innovative tool goes beyond traditional ... Read More »

India’s Business Information Gets a Boost

The Indian government has announced strict action will be taken against accountants who file incorrect financial records for businesses there. Previously in India, the Ministry of Corporate Affairs let chartered accountants, cost accountants and company secretaries file self-certified businesses accounts, online. The sea-change in filing regulations is, in part, a consequence of the country’s new Companies Act broadly coming into effect ... Read More »

Trade Credit: UK Suppliers Extend More Credit than Banks

It has always been known that trade credit is the largest form of short term capital.  The difficulty is to get hold of accurate estimates of the total amount of trade credit extended annually. According to a report “Charting the Trade Credit Gap”, by Professor Nick Wilson of the Credit Management Research Centre at Leeds University and Taulia, the credit ... Read More »

FCIB Munich Conference:  Transparency Increasing but Risk Remains

FCIB hosted its annual International Credit & Risk Management Summit on May 11-13, offering global credit professionals a rich opportunity to hone their international risk management skills and build their professional networks.  From shifts in global economies to especially pertinent regulatory compliance issues to detailed contract negotiation practices, the event provided attendees with a master class in how to manage credit in ... Read More »

UK Business Secretary Targets Corporate Structures

British business secretary Vince Cable has announced that he wants to see a public register of businesses’ true owners to improve transparency, combat tax evasion and reduce money-laundering. Tax authorities could then use the register to identify UK corporate ownership structures that are being used to channel or hide illicit funds, what the secretary calls the “darker side of capitalism”. ... Read More »

Thomson Reuters Launches Central Registry for Bank Client Data

Thomson Reuters Corp said it has launched a central register of information to help banks meet increasing compliance demands on who they deal with and cut their costs by reducing duplication. The news and information company said on Wednesday the product would act as a central clearing house for banks, corporations, asset managers, hedge funds and others to check identity documentation for their counterparties.  Senior ... Read More »

Duedil Raises US$17 million in Private Equity – Develops an Automatic Alert System for Users

BIIA member Duedil – which the FT has dubbed as “the Bloomberg of unquoted companies”, for providing data on every private business in the UK – has raised $17million to develop new products. The latest round of funding of $17million, is led by US-based Oak Investment Partners, and will enable the company to turn its database into an automatic alerts ... Read More »