Just Cashflows to offer free Anti-fraud software to its customers

SME-focused alternative lender Just Cashflows has announced that it will offer all its customers a ‘first line of defence’ against fraud that it says currently costs SMEs nearly £1.5billion a year.

Businesses will now be able to use the software to gauge the propensity for a customer or business to be involved in fraudulent activity, having learned from patterns and events from previous criminal and money laundering activity. A prime example would be having hundreds of companies registered at the same address.

The software constantly scans information from millions of sources and is superior to manual checks of public data such as those listed on Companies House. The software shows where principal officers, UBOs, Directors and/or Persons of Significant Control (PSCs) may be connected to other businesses, addresses or disqualified directors on an international basis.

Just Cashflow Executive Chairman John Davies, said “This level of protection and insight is much needed as most, if not all, existing databases fail to identify potential fraudsters. The software and services have been built with input from experienced fraud investigators, who have partnered with technologists to turn their insights into practical tools any business can and should use.

“For nearly eight years we’ve been targeted by fraudsters – as have our customers – in a manner of different and clever ways. We’ve used this experience to influence the design of services that deliver far beyond what is currently available to the average SME.”