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The National
HUNTER system is an anti-fraud data sharing system for use by members of the Financial Services Industry.It was founded in 1993, with the assistance of the Council of Mortgage Lenders (CML). From the initial six member organisations, the system has grown to include approximately 90 sites, all sharing application information for the purposes of fraud prevention.N HUNTER Limited is an independent not-for-profit company and is solely concerned with the prevention of application fraud within the Banking and Finance community.
What is Application Fraud?
Application
fraud is when an individual or group of individuals apply for financial services and knowingly misrepresents facts within their application. Some examples are given below:
An applicant impersonates another person after obtaining personal information about them and applies in their name.Anapplication is made and the applicant deliberately fails to disclose previous address information as they have adverse financial information present at that address which would prejudice the chances of the application being successful.Anapplicant inflates their annual income to facilitate access to additional borrowing.There are many more types of application fraud, but all involve untruths being present within the application.
