A CIFAS marker refers to a notation placed on an individual’s credit report by CIFAS (Credit Industry Fraud Avoidance System) when an organisation suspects fraudulent activity. This marker serves as a warning to other services that may access the individual’s credit report, alerting them to the potential risks of lending to that person.
However, CIFAS markers can cause significant issues for individuals if a business or its directors have a marker associated with their name. In such cases, finance organisations may deny loan applications and close accounts, and individuals may suffer financial losses or even lose their jobs.
CIFAS has defined eight distinct types of markers that correspond to various kinds of fraudulent activities, and each of them remains active for a different period:
Â
Â
Â
A CIFAS marker is typically placed on an individual’s credit report if an organisation suspects that the person has engaged in fraudulent activity, such as providing false information on an application or account takeover.
These markers can also be placed if someone is a victim of fraud and wants to protect themselves from future fraudulent activity.
In the case of suspected fraud, the organisation will report their suspicions to CIFAS, who will investigate and determine if a marker is warranted.
If a marker is placed on someone’s credit report, they will be notified by mail.
CIFAS markers can affect the following:
If you have a CIFAS marker held against your name, you can take the following steps to attempt to have it removed:
Â
Â
Â
Â
It’s worth noting that CIFAS markers can be challenging to remove, and the process can take time and may require legal assistance. It’s essential to act quickly and seek professional help if you believe you have been unfairly marked.
No, a CIFAS marker is not a criminal record and does not appear on public records or background checks. It is only visible to financial institutions and other relevant organisations that are members of CIFAS.
In most cases, employers cannot access information about CIFAS markers as they are not part of standard background checks or employment screening processes.
However, certain professions may require enhanced vetting or security clearance, such as those in financial or government sectors, where CIFAS markers could potentially be flagged during the screening process.
Additionally, suppose an employer specifically requests a credit check as part of their hiring process. In that case, they may come across a CIFAS marker if one is present on the candidate’s credit report.
However, CIFAS markers are generally not typically disclosed to employers unless there is a specific reason for them to be.
If you have a CIFAS marker against your name, your accountant may be able to help you by providing evidence to show that you have not engaged in any fraudulent activity. This could involve providing documentation to demonstrate that your financial records are in order and that your tax returns are accurate.
Additionally, suppose the CIFAS marker has been placed due to identity theft. In that case, your accountant may be able to assist you in providing evidence to support your claim and help you work with CIFAS to have the marker removed.
However, it’s important to note that accountants are not legal experts and may not have the expertise required to handle complex CIFAS cases. In these instances, it may be necessary to seek legal advice or the assistance of a specialist CIFAS removal company. Talk to your accountant if this is necessary and if they can recommend anyone.
A CIFAS marker is a flag that is placed on your personal information if you are considered to be at risk of fraudulent activity.
A CIFAS marker can be placed on your credit file or personal records if an organization suspects that you have been involved in fraudulent activity, or if you have been a victim of fraud in the past.
The purpose of a CIFAS marker is to alert other organizations that you may be at risk of fraudulent activity, and to encourage them to take extra precautions when dealing with your personal information.
If you have a CIFAS marker, it may be more difficult for you to obtain credit or financial services, as lenders and other organizations may view you as being higher risk.
Yes, it is possible to have a CIFAS marker removed if you can prove that you are not involved in any fraudulent activity.
If you receive a CIFAS marker, you should contact CIFAS and request a copy of your file.
You can then review the information and dispute any inaccuracies or errors.
It is also recommended that you report any suspected fraudulent activity to the relevant authorities, such as the police or Action Fraud.
We're thrilled to have you as a part of the Cubed Consultancy community! If you've had a great experience with us, we'd love it if you could help spread the word.