Quest backs the SFO’s call for UK-wide fraud register

Quest, which provides both consultancy services and anti-fraud technologies to mortgage lenders and property surveyors, is in favour of cross-industry data sharing to help reduce levels of fraudulent activity.

At the moment the FSA Register publishes supervisory, disciplinary and civil action that has taken against regulated firms and individuals. But information regarding criminal action is not stored in addition to any cases pursued by other enforcement organisations across the UK.

Andy Coles, business development manager at Quest, said: “The industry has been calling out for this type of centralised repository of financial fraud related intelligence for some time and so we at Quest fully support the SFO’s call for a central database.

"It would act as a major deterrent for fraudsters who would be clearly exposed by such an intelligence-based approach.”