GB Group News RSS Feed

GB Group Wins NWDA Science & Technology Business Award

GB Group, the UK’s leading identity management specialists, won the NWDA Science and Technology Award at The Liverpool Daily Post Award Ceremony on 16^th July, beating several other NW businesses to the title.

The company was nominated for its culture of innovation and its ability to apply leading-edge technology to real business issues. GB specialises in understanding consumer identity and enables client organisations to verify consumer identity and understand ongoing behaviour in order to identify and communicate more effectively with each customer.

Richard Law, CEO of GB Group, said: “We are extremely honoured to receive this award and to be recognised for our innovative technology by the North West’s leading businessmen. GB’s culture of innovation, quality and excellence means that we constantly strive to provide our clients with the tools they need to keep ahead of the game – be that in fighting identity fraud or identifying customer opportunities based on behavioural identity.

“This award recognises the whole company – not just one product or application. It is a testimony to the culture of constant innovation that we have at GB and is a real tribute to each member of our 160-strong team..”

GB Group recently launched their latest product, U4C, which helps businesses take advantage of ‘perishable’ opportunities. These are effectively high-value sales windows, which are currently lost due to the business’ inability to predict – and react quickly enough to customer buying signals or behaviour.

AGM Trading Update and Interim Management Statement - 16 July 2008

GB Group plc announces its Interim Management Statement of the Company for the period 1 April 2008 to 16 July 2008.

GB, the UK’s leading identity management business, will hold its Annual General Meeting in Chester today at 11 a.m. At that meeting, the following update will be given on the Group’s trading performance after the first quarter of the new financial year.

This update also serves as the Interim Management Statement of the Company for the period 1 April 2008 to 16 July 2008 in line with the UK Listing Authority’s Disclosure and Transparency Rules.

Trading Update

The Group has continued to trade well during the first quarter ended 30 June 2008. Highlights for the quarter were as follows:

• Group revenues rose 57% to £5.75 million compared to £3.67 million in same period last year. This revenue included a one-off settlement for licence arrears (“Settlement”) of £350,000 and, therefore, revenues from operations conducted during the period were £5.40 million, 47% ahead of the same period last year.

• Group profit before taxation, excluding the effect of the Settlement, was £41,000 compared to the first quarter loss of last year of £665,000. Group profit before taxation including the Settlement was £374,000.

• Excluding the Settlement, the year-on-year improvement in revenue and profitability was £1.73 million and £706,000, respectively. This illustrates the favourable effect of operational gearing since the Group became profitable in the second half of the last financial year.

• Cash balances at 30 June 2008 were £5.0 million (March 2008: £4.31 million). This is before the payment of the proposed final dividend of 1p per share, an increase of 33% on last year’s payment of 0.75p per share.

Commenting on the results GB’s CEO Richard Law said:

“GB’s focus on the identity management market has enabled the Group to lead in an emerging sector, which has all the appearances of showing substantial and sustained growth. The ability to prove age and identity electronically and subsequently to manage customers effectively over the internet is a prerequisite for every on line business and GB is exceptionally well placed to address this growing market.

We are pleased to report excellent progress in the year to date and I remain confident about the Group’s prospects”.

- Ends -

Release date: 16 July 2008

For further information, please contact:

GB Group plc
John Constantin, Company Secretary
Tel: 01244 657333

Weber Shandwick Financial
Ian Bailey
Rachel Martin
Hannah Marwood
Tel: 020 7067 0700

Identity market bucks trend as more and more organisations wake up to the value of "knowing the customer"

GB and British Board of Film Classification to join forces to protect children online

GB Group has confirmed its position as market leader in the whole area of identity verification and management with its announcement earlier today of a positive start to the financial year. The Group announced revenues up by 57% and an increase in profits of £1 million. While many sectors are struggling as the credit crunch takes hold, it appears that the provision of identity related services has bucked this trend. Regulators and analysts alike now acknowledge that electronic ID verification, in particular, is the way of the future when it comes to building business models that can meet the demands of the 21st century consumer.

Another indication of this has come from the British Board of Film Classification's BBFC.online scheme which this week has accredited GB’s age verification solutions for its member companies to ensure they can meet their gate-keeping responsibilities when selling age-restricted audiovisual material (movies, games etc.) by download, streaming or similar.

Andy Cooke, Business Manager at the BBFC’s new online venture stated:

“BBFC.online has been designed to give consumers the assurance they seek when choosing new media content. As such, it is imperative that we work closely with trusted, reputable organisations who can maintain the high standards that we demand for the control of age restricted audio-visual content.
We recognise GB Group as the industry leader in electronic identity verification and we are recommending that digital media distributors consider their solutions for the age verification of customers.”

Commenting on the company’s continued growth, GB’s Chief Executive, Richard Law added:

“The Internet may have been around for 15 years but we are only just beginning to see the start of real business adoption. Everything GB does is geared towards trading responsibly and safely on the Web. Online retailers have been highlighted recently as particularly weak in the areas of age and identity verification – this is an issue we already address in sectors such as online gaming and we are delighted that the BBFC has recognised our strengths and is recommending our approach to online ID verification. With the growth of social networking and the advances of Web 2.0, it is becoming increasingly important that brands can tap into all that the medium offers – without exposing themselves or their customers to increased risk. Our growth is focussed on developing identity solutions for our clients that enable them to use the power of the Web. We will continue to turn remote and often anonymous data back into real humans – with identities rooted in reality!”

New ID Check for IFAs Bounces Fraudsters

New Identity Verification Portal will Support Advisers in Fighting ID Fraud.

Independent financial advisors (IFAs), accountants and solicitors can now verify a client’s identity in seconds, and avoid the problem of identity fraud, thanks to a new online product launched last month.

The new service, eIDV, is available at www.eIDV.co.uk and uses URU® from GB Group and BT within the web-based portal to allow professional advisors to verify clients’ identities in seconds.

www.eIDV.co.uk enables advisors to offer better data security to clients as it minimises the need for valuable personal information to be posted, photocopied and stored in the traditional manner. Instead, everything can be processed electronically, using URU, the UK’s leading electronic ID verification application.

www.eIDV.co.uk works by matching client data against a wide range of databases available to businesses, including credit files, the Electoral Roll, landline telephone and sanctions data. Using URU’s unique document checking capability, it can also validate passport, utility bill and driving licence information as well as checking for alerts on both the Politically Exposed Persons and Bank of England sanctions lists.

Once the information is entered, users will be provided with an instant pass, fail or refer result, based on scoring designed specifically for the professional adviser market and in compliance with Joint Money Laundering Steering Group (JMLSG) guidance. The service will ensure that the process of confirming an individual’s identity is faster, more robust and far more efficient than traditional, manual checks.

Les Sharpe of www.eIDV.co.uk, explained: “The key benefit of www.eIDV.co.uk is that it enables professional advisors to simply and efficiently verify a client’s identity instantly – even while sitting in the client’s office or living room. The whole process of acquiring, registering and maintaining client relationships becomes streamlined with the ultimate objective of creating less stress for the client and a significant time and expense saving for the professional advisor.”

Rob Laurence, Managing Director at GB Group, added: “With clients and advisors both increasingly concerned about identity fraud, it is vital that new technology is able to support best practice across the sector. Using electronic ID verification not only means the advisors meet all their compliance requirements for anti-money laundering checks, but also ensures that the client’s personal identity information is securely stored and shared between all parties across the process. www.eIDV.co.uk offers an instant checking process that is transparent, auditable and totally robust.”

“In addition to ensuring the integrity of clients, the system is electronic so requires less resource across the process and ultimately positively affects advisors where they need it most - on the bottom line.”

Identity-based marketing

The key to successful business growth in the 21st CenturyOver the last three years or so, we have seen a real rise in awareness of the value of personal identity. Sadly, this has come about as a direct result of the emergence of identity theft and fraud associated with the use of stolen or fictitious identities. But it has also been fuelled by the whole debate around ID cards, and whether or not the UK will be a safer place to live once every citizen is mandated to carry a card to prove that they are who he or she claims to be. Richard Law, CEO of GB group explains more. (Source: www.mad.co.uk, 16th June 2008)

Losing Customer Opportunities? Perish the Thought

A ground-breaking new service designed to provide marketers with the ability to give customers the ultimate direct communication experience, is being launched today.

U4C is yet another online innovation from GB Group, the UK’s leading identity management business, which allows companies to develop a bespoke communication strategy for each individual customer, based on a thorough understanding of individual identity. This allows marketers to respond to time sensitive opportunities which are currently unexploited – identified as “perishable opportunities” by GB Group.

Perishable opportunities are effectively high-value sales windows, which are currently lost due to an inability of businesses to react quickly enough to customer buying signals or behaviour.

U4C will enable marketers not just to react to specific customer behaviour, but to create a predictive contact strategy that will not only maximise the return on any marketing campaign, but also ensure a better all round experience for the end customer.

It will also enable organisations to build complete contact strategies for every customer or prospect in a campaign. Based around a series of event “triggers”, the technology includes the ability to email, mail, text or call a prospect as most relevant – and most appropriate. Early trials of this new interactive approach to marketing indicate that clients could see returns as high as £10 for every £1 of campaign spend.

U4C not only allows companies to improve the return on campaign spend but also improves the experience for the end consumer. Using technology and techniques specifically developed by GB Group, U4C will identify customers as individuals and build an extended contact strategy that understands, and is responsive to, consumer behaviour and preferences.

By ensuring that all contact is in response to specific consumer action, GB believes there will be a significant reduction in waste and costs. The occurrence of junk mail – whether through the door or online – will also be significantly reduced.

To read the full story please click here.

To find out more out U4C, please click here

Preliminary Results for Year ending 31st March, 2008

GB Group Plc, the identity management specialists, announces preliminary results for year ending 31st March, 2008.

Highlights included:

Group revenue in the year increased by 30% to £19.4 million (2007: £15.0 million) driven by growth across all areas of the business
Revenue in DataAuthentication, GB’s identity verification business, increased by 56% to £7.5 million (2007: £4.8 million)
Growth came both from new clients including Blyk and Ladbrokes and from increased volume usage by existing clients
DataIntegrity and DataSolutions, providers of identity based marketing services, generated an increase in revenues of 17% to £11.9 million (2007: £10.2 million)
We have continued to invest in and develop online variants of these products and services provided by these businesses
Profit in the second half of £0.6 million (2007: £0.6 million loss) was achieved. Full year losses were reduced substantially to £0.4 million (2007: £1.2 million)
More than 50% of revenue is now derived from online services, providing greater scalability
Cash balances at the year-end were £4.3 million (2007: £5.2 million)
Increased dividend of 1p per share (2007: 0.75p) to be recommended to shareholders at the forthcoming AGM

Commenting on current trading, Richard Law, CEO, said:

”GB continues to demonstrate leadership in the emerging market for identity management. Trading in the current year to date is in line with expectations and underlying revenue in April was approximately 35% higher than in the same period last year. I remain confident that GB’s future prospects are excellent.”

Click here for full details of the announcement.

Release date: 29 May 2008

Can I see some ID

For as long as shops have sold cigarettes and alcohol, underage customers have been trying to buy them.GB Group's recent study showed how easy it is for teenagers to get access to prohibited material and goods both in the high street and online. This survey appeared in Retail Week (14th May 2008).

To read the full story please click here.
To view the video footage from Sky News please click here.
To listen to the radio broadcast please click here.
To find out more about how GB can help you to age verify your customers please click here.

Retailers Fail to Prevent Internet Teenage Kicks

Lack of age verification means 13-17 year olds increasingly free to buy inappropriate material online

Young people are using the internet to buy inappropriate material, such as explicit video games, adult DVDs, alcohol and even weapons, because it’s easier than buying it on the high street, according to new research issued today.

A nationwide survey among 1,000 male and female teenagers aged 13-17 found that young people are consistently trying to buy inappropriate material online thanks to poor levels of age verification – and in thousands of cases across the country are successful in their attempts.

The research - by GB Group, the UK’s leading identity management company - reveals:

Nearly half (48%) of teenage boys under 18 have tried to buy adult DVDs or violent video games online in the past year...and over three quarters of these were successful
One in 20 (5%) 14 year olds have successfully purchased alcohol online
A similar number of 15 year olds have been able to buy dangerous objects online such as knives
A quarter (25%) of teenage boys and over a third (38%) of teenage girls under 18 have managed to buy items online using someone else’s credit card

Recent advances in online technology mean websites can now immediately verify anyone who tries to buy or access material which could be deemed inappropriate, by cross-referencing existing ID and age data - allowing online firms to keep sites user-friendly while putting security measures in place to protect young people.

Yet while the UK online gambling industry has embraced latest age and ID verification processes, to protect young and vulnerable consumers, the survey shows that online retailers are still failing to verify customer ages: two thirds (66%) of 13-17 year olds have been asked for ID in shops when trying to buy inappropriate material over the past year, yet just 18% of young people have been asked to prove their ID when trying to buy similar items online over the same period.

Even popular social network sites such as YouTube and Facebook currently offer ‘adult’ content without any stringent age verification.

The findings come in the week the Online Purchasing of Goods and Services (Age Verification) Bill receives a further reading in Parliament; introduced by Margaret Moran, Labour MP for Luton South, it is due to receive its second reading on Friday (May 16).

Moran’s proposals aim to ensure that anyone selling age-restricted goods and services over the internet has to take steps to verify if customers are old enough. It is the first time a politician in Europe has called for online age and identity verification to be put on the statute books.

To read the full story please click here.
To view the video footage please click here.
To listen to the radio broadcast please click here.
To find out more about how GB can help you to age verify your customers please click here.

Trading Update - issued on 14 April 2008

GB Group plc, the UK’s leading identity management business, announces a trading update for the year ended 31 March 2008.

Overview

The Group has completed a year of good progress and expects to record significant revenue growth in the second half of the financial year to approximately £11.5 million (2007: £7.9 million), an increase of 45% compared to the corresponding period last year. The Group’s investment in infrastructure and people, to continue the development of its electronic age and identity verification business, has continued. The substantial uplift in revenue from this business has more than offset these additional costs and the Group is expected to generate profit before tax in the second half of the financial year of approximately £0.6 million (2007: £0.6 million loss).

Results for the full year are expected to show revenue growth of approximately 30% to £19.4 million (2007: £14.9 million) and a significant narrowing of full year loss (before tax and after the charge for share based payments of £0.2 million) to approximately £0.4 million (2007: £1.2 million loss).

Further highlights for the year to 31 March 2008 are as follows:

• Growth during the year came principally from a strong performance in GB’s DataAuthentication business which is expected to record an increase in revenue of approximately 58%. Revenue growth has come both from new clients which were signed during the year, including Blyk and Ladbrokes, and increased usage by existing clients.

• GB’s DataIntegrity and DataSolutions businesses are expected to generate an increase in revenues of approximately 16% compared to the previous year. Identity management and integration with DataAuthentication are becoming more important themes for these businesses.

• Cash balances were £4.3 million at 31 March 2008 (2007: £5.2 million).

Outlook

The Group is seeing increasing evidence of a move from manual to electronic methods of identity verification. Additionally, a new industry sector is emerging that deals with how businesses verify and manage the identity of their customers to minimise fraud and regulatory risk. GB has the capability to continue its lead in this emerging sector and will invest accordingly to maximise this opportunity over the long term.

The Group will provide further details of its trading performance at the time of its preliminary results announcement, which is expected to be released in late May 2008.

-Ends-

Release date: 14 April 2008

For further information, please contact:

GB Group plc
John Constantin, Company Secretary
Tel: 01244 657333

Weber Shandwick Financial
Ian Bailey
Rachel Martin
Hannah Marwood
Tel: 020 7067 0700

Easy Convey software to include electronic identity checks in line with new Anti-Money Laundering legislation

Law firms will now be able to verify the identity of customers swiftly and with confidence thanks to a collaboration with GB Group

Easy Convey Ltd (www.easyconvey.com), a leading developer of electronic conveyancing products and services, has today announced the inclusion of an electronic identity checking service within its Conveyancing Administration Software Application (CASA), in association with identity management specialists, GB Group.

The new ID checking service will enable solicitors who are using CASA to meet the demands of the latest anti-money laundering legislation that came into effect at the end of last year. As part of the new Money Laundering Regulations 2007, solicitors will now need to ensure that they are following risk-based assessments which include certain checks into the business dealings of their clients.

The URU™ ID checking solution, jointly developed by GB Group and BT, is now integrated with Easy Convey's CASA, so that users can cross-check personal client details against a range of population data sources such as the Electoral Roll, as well as financial data supplied through Callcredit, a variety of telephone and address data, and also deceased and ‘gone away’ files.

As an integral part of CASA, the service will also confirm the authenticity of common proofs of identity such as a passport, driving licence, or utility bill. The PEP (politically exposed persons) and Sanctions databases are also checked, and GB’s enhanced PEP checking service – to be introduced later this month – will also be integrated into Easy Convey’s identity checking system.

"This new service has been launched to meet the requirements of this new Anti-Money Laundering legislation specifically," says Dominic Cullis, managing director, Easy Convey Ltd. "A basic identity check simply isn't enough anymore, since the possibility remains that a new client is actually using a stolen identity, and/or appears on the PEP or Sanctions list. To be absolutely sure of a client's identity, we would recommend running this check on each and every client, especially as it so economical.”

A critical requirement of the latest Anti-Money Laundering regulations is to confirm that a new or existing customer – whether an individual or an organisation – is who they say they are, a process known as KYC or Know Your Client. Having access to this information and making use of it underpins all Anti-Money Laundering procedures, and is therefore the most effective way of ensuring that law firms aren't inadvertently helping to launder the proceeds of crime.

Easy Convey's clients using the new service will be provided with an instant pass or fail result, based on scoring defined specifically for the legal sector, and in full compliance with Joint Money Laundering Steering Group (JMLSG) requirements. As such, the new service will ensure that the process of confirming an individual’s identity is faster, more robust and far more efficient than traditional, manual checks.

CASA already has a proven track record for assisting lawyers and licensed conveyancers with all areas of conveyancing administration. It is the first electronic conveyancing application to provide automated case tracking, and to integrate with all three NLIS Channels. The application can be used to generate letters and to complete forms and other documents via automated workflows, all with the added convenience of making sure that information only needs to be entered into the system once.

In addition, law firms and licenced conveyancers can also use CASA to submit their Inland Revenue SDLT returns electronically, and to print the certificate immediately on acceptance of the submission. Previously, the need to use printed forms sent via the post meant that this process could take up to four weeks. However, by using CASA to manage this same information electronically, the process now takes just minutes, with the submissions guaranteed to be correctly formatted and completed.

GB Group Calls For Industry-Wide Approach To Control Problem Gambling Online

The world’s largest provider of identity based information to the online gaming industry has called for an industry-wide “self-exclusion” process to tackle the issue of problem gambling following the decision by a gambling addict to sue a betting chain for losses incurred after he had ‘self-excluded’ from further activity.

Graham Calvert, 28, is suing William Hill for more than £2 million - money he lost gambling after asking the bookmaker to block his account from further use.

And now GB Group, providers of online tools to confirm the age and identity of new players on all major online gaming sites, has called for an industry-wide, joined-up approach to share self-exclusion data as part of the player verification process. The company also provides analytical tools, through its PlayerPredict solution, that can identify potential problem gamblers within a client’s customer-base, based on known trends and behaviours.
By using self-exclusion screening as part of the initial player verification process, and using technology to predict problem gambling patterns, operators can greatly reduce the risks associated with dealing with players who develop addictive traits.

Richard Law, CEO of GB Group, said: “I hugely sympathise with Mr Calvert because he had clearly identified that he had a problem and was trying to do something about it.
“Unfortunately, even if this particular provider had prevented Mr Calvert from gambling, under the present system he could have gone to an alternative provider and carried on gambling. For this reason we believe the online gaming industry urgently needs to get together and share information on problem gambling and use the tools and technology that already exists to detect potential signs of addiction in order to help people like Mr Calvert.

“As market leader in the whole field of identity verification, we are already collaborating with major players in the industry including Skybet, Virgin Games and Probability Gaming to ensure shared, joined-up approach can be in place in the near future to prevent cases such as Mr Calvert’s happening again.”

From murder to money-laundering - GB Group’s technology helps make the UK a safer place to live

An innovative on-line people tracing tool from GB Group, a specialist provider of identity information, is helping bring criminals to justice by enabling police forces to trace criminal suspects to their known address.

GB’s Accelerator IQ is helping in reducing the burden on police administrative resources by many hundreds of man-hours by focusing resources to locate individuals quickly. Already in use by the Metropolitan Police and Suffolk Police forces, its most recent high profile use was in tracking Steven Wright, convicted yesterday of the murder of 5 Ipswich women.

GB Accelerator IQ is a specialist tool that is used specifically by police and Government agencies for the prevention and detection of crime. It works by cross referencing the broadest and most current spectrum of UK population databases to confirm the last known or current address of a suspect

Richard Law, Chief Executive at GB Group, said: “We support the police and Government with leading edge technology to save valuable resources and to speed up the time taken to conclude an investigation. In many cases, time is of the essence and by quickly identifying suspects, such as Steven Wright, and being able to trace them to a current address, we can provide intelligence to the investigating team that would previously have taken thousands of man-hours to complete
.
“We firmly believe that GB Accelerator IQ is making the UK a safer place to live by helping the security services to identify and profile suspects quickly. At a time when citizens in the Ipswich area felt particularly at risk, we were pleased to support Suffolk Police in helping secure a firm conviction. We have since extended the use of our identity technology to many other Police Forces and Government Agencies.

Detective Superintendent David Cole from Suffolk Police said: "GB Accelerator IQ has saved us hundreds of hours which would otherwise have been spent manually searching through intelligence provided by the community. Accurate intelligence gathering and address verification is key in an investigation of any size, but on the scale we experienced here it made officer time far more efficient and made a vital difference.

“We have always been keen to employ the latest technology in an investigation and this case has proved why.”

In conclusion, Richard Law added: “Our ability to locate and verify people for the prevention of criminal activity underpins our position as the market leader in online identity verification solutions. Our technology is equally used within the private sector to combat money laundering and fraud – activity that is often used to fund organised crime syndicates or terrorist groups – groups who are particularly adept at covering their tracks.”

Interim Management Statement - issued on 12 February 2008

GB Group Plc, the identity specialists, announces its Interim Management Statement for the period to 12 February 2008.

Overview

At the time of the interim results in November 2007, it was indicated that the Group expected to trade profitably for the remainder of its financial year to 31 March 2008. The Board is pleased to report that the Group moved into profitability as anticipated.

The highlights for the quarter ended 31 December 2007 were as follows:

• Group revenues increased by 45% compared to the same period last year to £4.8 million (2006: £3.3 million).

• Revenues from GB’s identity verification business, DataAuthentication, doubled to £2.0 million (2006: £1.0 million) compared to the same period last year.

• DataIntegrity and DataSolutions, providers of identity based marketing services, generated revenues of £2.8 million (2006: £2.2 million), an increase of 27% compared to the same period last year.

• Group revenues increased strongly during October and November and, with the overhead base substantially fixed for the second half of the year, the Group became profitable in November.

• Revenues continued to grow in December, traditionally one of GB’s strongest months, with a significant proportion of the additional revenue falling to profits. The Group generated profits before taxation in December of approximately £229,000 compared to a loss of approximately £32,000 for the same period last year.

• Group profits before taxation for the quarter to 31 December 2007 were £74,000 (2006: £300,000 loss).

As a result of the move into profitability, the losses for the nine months to 31 December 2007 reduced to £0.9 million (2006: £1.2 million).

Current Trading

The Group has continued to trade profitability in the final quarter of the financial year. Accordingly, Group revenues and profitability in January 2008 were materially ahead of January 2007.

Cash balances were £3.7 million at 31 January 2008 (27 November 2007: £3.6 million).

Outlook

The Board is pleased that following a period of significant investment in new online products and services, the Group has moved into profitability and believe that this represents an important milestone for the business.

The Board is confident about the Group’s prospects.

Commenting on the announcement, Richard Law, CEO, said:

“The Group has continued to move towards the online delivery of its solutions, all of which address the issues increasingly faced by businesses in relation to the identity of their customers, in particular identity fraud. GB is now a more efficient business with scaleable operations delivering growth in all areas.”

-Ends-

For full details of announcement click here

Release date: 12 February 2008

For further information, please contact:

GB Group plc
John Constantin, Company Secretary
Tel: 01244 657333

Weber Shandwick Financial
Ian Bailey
Rachel Martin
Hannah Marwood
Tel: 020 7067 0700

The Exchange Launches Electronic Identity Checking Service Provided By GB Group

The Exchange, provider of e-services to over 25,500 financial intermediaries, has today announced the launch of an electronic identity checking service, in partnership with identity management specialists, GB Group.

The URU™ ID checking solution, jointly developed by GB Group and BT, is now integrated with The Exchange’s Exweb portal to allow users to cross check personal client details against a range of population data sources* - including Electoral Roll and financial data supplied through Callcredit, telephone and address data, deceased and ‘gone away’ files.

The service will also uniquely confirm the authenticity of common proofs of identity such as a passport or utility bill. Advisers will then be provided with an instant pass or fail result, based on scoring defined specifically for the adviser market and in full compliance with Joint Money Laundering Steering Group (JMLSG) requirements. The new service will ensure that the process of confirming an individual’s identity is faster, more robust and far more efficient than traditional, manual checks.

Click here to read the full article.

Lenders get Vital Opportunity to Protect Customer Base

Data services company GB Group is offering mortgage lenders the opportunity to proactively target customers as they request Home Information Packs (HIPs).

Using GB’s 4C-UK – the UK’s only PreHomeMover Database, which gathers over 85% of residential property searches featured within a HIP every week across England and Wales – mortgage lenders can see which of their customers are planning to move home and are on the look out for latest mortgage deals and other financial services products most often purchased during a house move.

4C-UK’s primary function is to aid customer retention and help mortgage lenders to sell relevant services – all the while fending off heavy competition in the current difficult market.

The residential property search data – which is exclusive to GB Group – is sourced from partners involved in the conveyancing process, when residential property searches are completed.

The unique strength of this data means 4C-UK is the only pre-homemovers product that can provide 85% degree of assurance for mortgage lenders - and this is designed to trigger a proactive customer communication at the most accurate time.

David Green, business development director at GB Group said: “With mortgage approvals reaching a ten-year low as a result of tighter lending and heightened pressure on house buyers coming from interest rates, it has never been more important for mortgage lenders to reach their customers at the right time, with the right message and the right offer.

“It is essential for lenders to be as proactive as they can be in retaining their existing customers. Knowing which customers on their database will soon be moving house is invaluable, as this will allow contact to be made at the ideal time – just before they start shopping for new mortgage deals.”

Interim Results for six months ending 30th September 2007

GB Group announces its interim results for the six months ended 30 September 2007.

Highlights

The Group is expected to generate profits for the remainder of the financial year to 31 March 2008.

Group revenue increased by 13% to £7.9 million in the six months to 30 September 2007 (2006: £7.0 million).

DataAuthentication revenues increased to £2.8 million (2006: £2.5 million).

Number of individual transaction searches in DataAuthentication (excluding one-off batch verifications) increased to 2.2 million during the period (2006: 1.6 million).

Combined revenue from DataIntegrity and DataSolutions was £5.1 million (2006: £4.6 million).

Group loss before tax in the six months to 30 September 2007 was significantly less than expected at £1.0 million (2006: £0.6 million).

Cash balances were £3.6 million at 30 October 2007 and the Group expects to generate cash for the remainder of the year.

During October, the rate of growth increased across the Group.

URU currently has 202 clients compared to 174 in May 2007 and transaction searches were 32% higher than the monthly average from the previous quarter.

John Walker-Haworth, Chairman, commented:

“GB continues to provide market leading products and services in each area of its business. The Group delivered improved revenue growth during the first half of the year and your Board is very positive about prospects.”

For full details of the announcement click here

Release date: 27 November 2007

For further information, please contact:

GB Group plc
John Constantin, Company Secretary
Tel: 01244 657333

Weber Shandwick Financial
Richard Hews
Hannah Marwood
Tel: 020 7067 0700

Website www.gb.co.uk

HiFX signs for GB Group's KYC technology

One of the world's largest currency exchanges, HiFX, has appointed identity specialist GB Group to protect against money laundering and fraud - and speed up the process of customer verification...(Finextra, 14 November 2007)

To read the full article please click here.

Consumers mistrust businesses over identity fraud

Only half (52%) of consumers in Great Britain trust their high street bank or building society to protect their personal details from identity thieves, a new ‘trust’ poll has revealed.YouGov ID fraud ‘trust’ survey – key statistics:

Less than half (46%) of consumers feel there is enough information available to help protect themselves against identity fraud

An overwhelming majority - 72% - feel that the organisations holding their personal
details are ultimately responsible for protecting their identity

52% of consumers say they trust their bank/building society to look after their details,

while just 25% say they trust the Government with their personal details

Almost half (49%) of women in Great Britain would be prepared to give up online banking and e-shopping to reduce the risks of ID fraud.

‘Trust league’ – breakdown of trusted organisations:
1. Bank and building societies: 52%
2. Central Government: 25%
3. Local councils: 21%
4. Mortgage brokers, independent financial advisers, stockbrokers: 20%
5. Utility companies: 18%
6. Retailers: 9%
7. Mobile phone companies: 9%
8. Travel companies: 6%
9. Gambling companies: 4%

To read the full article please click here.

Trading Update

GB Group announces its trading update for the six months ended 30 September 2007.

On 11 October 2007 GB Group (“GB” or the “Group”) announced a trading update for the six months ended 30 September 2007.

Overview
Group trading in the first half of the year was positive with revenue broadly in line with market expectations and the loss before tax was significantly lower than market expectations primarily due to improved margins.

This favourable performance was the result of a pleasing second quarter performance from all of the Group’s business areas.

GB has maintained its lead in the market for electronic age and identity verification solutions and growth in the Group’s DataAuthentication business resumed in the second quarter of the current financial year with transaction volumes ahead of the previous quarter.

Revenue also grew in the Group’s traditional business units, DataIntegrity and DataSolutions, as a result of recently developed online services. Accordingly, the Board considers that the future prospects for these business units are much improved.

The Group has adequate cash resources for its requirements and, as at 30 September 2007, cash balances were in line with market expectations at £4.1 million (2006: £5.2 million).

GB believes that its strategy of developing, and investing in, products and services which can displace competing legacy products and services is working, and that its businesses are developing a valuable strategic position in their respective markets.

In conclusion, the Board continues to be optimistic about the future prospects of the Group.

Trading Summary
Unaudited Group revenues increased by 13% to £7.9 million in the six months to 30 September 2007 (six months to 30 September 2006: £7.0 million). Gross margins improved during this period principally as a result of higher levels of revenue generated within the DataAuthentication business unit and the impact of operational gearing. Overheads in the first half of the year increased to fund greater sales, marketing and infrastructure in DataAuthentication but did not increase to the originally planned level and are not expected to increase significantly further in the second half of the financial year. Unaudited Group losses for the six months to 30 September 2007 were £1.0 million (2006: £0.6 million) which is ahead of market expectations.

DataAuthentication
The number and quality of URU clients continues to grow and as at 30 September 2007 totalled 195 (31 May 2007: 174). The number of individual transaction searches (excluding one off batch jobs) has increased to 2.2 million for the six months to 30 September 2007 compared to 1.6 million in the corresponding period last year. Revenue during the period was £2.8 million (2006: £2.4 million).

This increase in individual transaction levels has been generated from both existing and new clients. Existing clients have increased their usage to comply with new legislation around Online Gaming and the European 3rd Money Laundering Directive. This is a trend that is expected to continue as the effects of greater electronic trade, and the regulations to combat crime, combine to drive the market towards electronic age and identity verification.

As indicated in the trading update in July 2007, the shift of the market towards electronic methods has been slower than expected. Despite the second quarter uplift, this continues to be the case overall for the six months to 30 September 2007. However, costs have also been scaled in line with the development of the market and consequently bottom line performance for the six months was in line with market expectations.

DataIntegrity and DataSolutions
Combined revenue from the DataIntegrity and DataSolutions business units in the six months to 30 September 2007 increased to £5.1 million (2006: £4.6 million) which is ahead of market expectations.

Interim results
The Group’s Interim results are expected to be released on 27 November 2007.

Release date: 11 October 2007

GB Group gives IntelliFlo easier client ID checks

IntelliFlo has sealed an alliance with technology specialist GB Group to help advisers work more efficiently, the financial services back-office system provider announced.

The provider hopes to transform customer ID verification from a pile of paperwork and lengthy delays into a couple of clicks online. The use of electronic identification by financial services firms is growing rapidly and most advisers wish to avoid the constant dirge of having to key and re-key passwords... (FT Advisor, 11 October 2007)

To read the full article please click here.

GB Group ID Check is the right way to work

GB Group's website conducts identity checks for lenders and advisers...It was difficult to see how this facility could be improved (Mortage Advisor, 11 October 2007).

Lender says...

GB Group's website conducts identity checks for lenders and advisers. Karyn Bright, marketing manager of GB Group, said: "The system works by cross referencing all the information that has been inputted.

"Advisers can access the page anywhere where there is an internet connection, allowing them to carry out an ID check even in front of the client.

"It is perfectly valid and it is a process that can be seen to have been done by the lender or packager further down the line." (Mortage Advisor, 11 October 2007)

To read the full article please click here.

Major british bookies sign up for GB Group ID software

Ladbrokes and William Hill sign on for ID verification technology. The United Kingdom technology firm GB Group, which specialises in online electronic ID checks, has signed up two of Britain's major gambling firms for its service. William Hill and Ladbrokes opted for the GB product this week after extensive study...(Online Casinos, 5 October 2007)

To read the full article please click here.

GB Group welcomes the new global responsible gambling code from Gamcare, eCogra and the RGA

GB Group has welcomed the announcement yesterday of the new global responsible gambling code from Gamcare, eCogra and the RGA and confirmed that it would be working with its client base to ensure conformance with the principles of the new Code.

"Richard Law, GB's CEO stated; "The new global Code of Conduct will ensure a consistent
approach across the industry to tackling the issues of problem and underage gambling on a
global basis. We welcome the moves towards an open and transparent approach to social
responsibility and are committed to supporting the sector with industry-wide initiatives which will further strengthen the already robust self-regulation of the online gaming industry."

GB leads the market in the provision of social responsibility solutions including age and ID
verification through its ID3 technology and the recently announced PlayerProtect solution for the detection of potential problem gambling behaviour. Two weeks ago it announced that it is
working with the industry to facilitate the roll-out of a shared self-exclusion database which can be accessed by operators and gamblers alike to control the risk of problem gambling.

To read the full article please click here.

UK’s largest prepaid card issuers opt for know your customer technology from GB Group

Identity verification specialist, GB Group, has today cemented its position as the largest provider of Know Your Customer (KYC) technology to the UK prepaid card industry by announcing it has now secured the business of all of the UK's top prepaid card providers.

The Chester based PLC has announced the decision by IDT Finance - launching their brand
new reloadable card, Prime - to use its ID3 anti-money laundering and fraud prevention
technology. The move follows the recent decisions by firstprepay, M-Cube, Altair, Chequepoint and Tuxedo Money Solutions, to sign up to GB Group's award-winning technology over the last few months - and comes as industry analysts predict prepaid card transactions will reach 2.3 billion by 2010 in the UK and Europe alone.

GB Group's ID3 identity verification technology is capable of confirming the identities of over 800 million individuals in 26 countries within seconds - for an industry like prepaid cards, this information is vital.
To read the full article please click here.

William Hill signs up ID3 Check from GB for international id verification

The contract with William Hill has further underlined GB’s position as the dominant player in the gaming sector.

Identity verification specialist, GB Group, has now cemented its position as the world’s largest provider of ID services to the online gambling industry by announcing it has now secured the business of all of the UK’s top operators as outlined in this year’s Power 50.

The Chester based PLC has announced that it will be providing William Hill, number 2 in this year’s eGaming Review’s Power 50, with international identity verification capability through its ID3 Check solution. The contract with William Hill has further underlined GB’s position as the dominant player in the market. It also confirms its ID3 technology as operators’ solution of choice with its capability of confirming the identities of over 800 million individuals living in 26 countries within seconds, offering front-line protection against fraud, money laundering and underage gambling.

William Hill is using ID3 technology to verify the identities of international players to reduce the risk of underage gamblers or players from illegal territories accessing their products. It will also be using the service to collect accurate details on all new players before feeding the information into their customer contact databases for use in later player retention campaigns.

William Hill joins the 80% of the largest online gambling operators that are currently using GB’s ID3 technology through ID3 Check and its UK sister application URU

David Hood, spokesperson for William Hill said: “As one of the world's leading gambling operators, we appreciate that it is vital that we use the most robust ID verification system available to protect our customers, where ever they originate. ID3 sets the benchmark for global ID verification and strikes a much needed balance between the drive for customer acquisition and the need to support social and corporate responsibility policies. It goes far beyond the needs of the UK’s Know Your Customer (KYC) regulations, all the while making it as easy as possible for genuine players to access our services.

“ We chose GB because of their diligence in extending basic ID verification standards beyond that which operators are simply required to implement. Their technology safeguards against the risks of fraud and money laundering whilst allowing us to grow our business into a truly global brand.”

ID3 Check from GB works by matching an individual’s details against an extensive range of external databases for the country from which they originate. Within seconds, it provides an authentication score that either confirms or rejects the identity of the individual, enabling operators to make instant decisions on whether to accept or decline the player.

Steve Quinn, Head of Gaming at GB, said: “We are helping all of the world’s largest online gambling operators to safeguard their customers and shareholder value against identity fraud, money laundering and underage gambling. For these operators, our ID3 Check solution also serves as a powerful demonstration to governments who may currently be reviewing legislation affecting the online gaming sector that the industry is strategically committed to responsible gambling.”

GB and Ordnance Survey team up to release advanced comprehensive multi-dimensional name & address tool

GB has partnered with Ordnance Survey to include OS MasterMap Address Layer 2 data in a vastly enhanced version of GB Accelerator IQ.GBAccelerator IQ combines two powerful datasets – GB’s National Register® and Ordnance Survey’s Address Layer 2.
A key feature of Address layer 2 is the additional one and half million Objects without a postal address (OWPA) – identifiable landscape features that do not traditionally have a postal address, such as churches, car parks, community centres, depots and even phone boxes.
As Ordnance Survey continues to enrich and expand Address Layer 2, ongoing updates to GB Accelerator IQ will ensure the latest data is available to GB Group’s customers.
Address Layer 2 provides geographic and postal addresses, which GB Accelerator IQ can locate in sub-second speed (even from partial information) via the powerful search and retrieval tool.
The combination of Address Layer 2 and GB Accelerator IQ’s searching capability is linked to the breadth and currency of data contained within GB Group’s National Register database, which includes 16 years of electoral roll data, current names, PAF verified addresses, and telephone and business data from across the UK.
Address Layer 2 cross-references addresses from multiple sources such as Royal Mail and the Valuation Office Agency with a unique identifier. It also links the address to the OS Master Map Topography Layer.
David Green, Business Development Director from GB Group, explained: “When someone is assaulted at 2am and a 999 call is made, the location is often given by someone with no precise idea where they are. The address quoted may be ‘by the phone box on the corner of the marketplace in Bolton town centre’.
“Address Layer 2 has mapped identifiable objects in order to provide a precise address. This could potentially save lives by helping emergency services recover vital minutes lost looking for a location.”
The latest Ordnance Survey data also includes Multi-occupancies without a postal address (MOWPA) – details of individual households that currently do not have mail delivered to their own letter box, such as flats or halls of residence.
David Green added: “This link between such extensive name, address and geographical data is unique. They have never been available in one product before.
“The landscape of the UK is changing. Our major cities have thousands of new apartments and converted buildings which were once commercial addresses. Identifying the address of individual flats and apartments has always been challenging.
“As well as identifying individual addresses, Address Layer 2 distinguishes between residential and business premises and GB Group’s National Register can supply the name of past and current occupants.
“The additional data now included means that there is a far greater market for a product with this level of sophistication. Through our partnership with Ordnance Survey we are continuing to look for fresh innovation which will add increasing layers of new data for users.”
Ordnance Survey’s Senior Product Manager, Cara Reed, said: “This is a great example of a partner adding value to Ordnance Survey’s world-class spatial address data. GB Group have created a really powerful tool for all manner of customers who need accurate, rapid and historic name and address data – from organisations wishing to trace individuals, to the emergency services responding to an incident, or to insurance companies investigating fraud.”
GB Accelerator IQ will be available in CD-ROM or secure Internet.

Tuxedo signs for GB Group's know your customer technology

Tuxedo Money Solutions is using the latest Know Your Customer technology from anti-fraud and money laundering specialist GB Group to comply with Government regulations, as record numbers of new customers sign up to its latest prepaid card.Initially targeted at cash users, economic migrants and ethnic communities based in the UK, the card can also be used to withdraw cash from foreign ATMs and can be loaded up in exchange for cash paid in at leading banks and building societies.
Tuxedo is using GB Group's online identity checking service, URU to check that new customers really are who they say they are.
Powered by GB Group's proprietary ID3 technology, URU is now used by over 170 organisations in the UK including four of the top five banks, major high street and retail companies and over 80 per cent of licensed online gaming companies.
The service is designed to prevent cards being used for money laundering under false identities, and helps Tuxedo to comply fully with the Government's KYC guidelines, which have been introduced to control organised crime and terrorism funding.
Colin Loubser, Marketing Director of Tuxedo Money Solutions, said: "The biggest differentiator between GB Group's service and other identity verification providers is that it does not rely on a credit check to confirm identity. Instead, it references many different databases containing information on millions of individuals and only then authenticates the customer - thankfully, this all happens at lightning speed.
"The system is available 24/7 online so is helping us to sign up new customers quickly without having to put them through a fairly obtrusive and unfriendly manual checking process - a process itself that is fraught with risk.
"URU also gives us an essential audit trail, which helps us meet our compliance requirements of being able to prove that we have performed a full KYC check."
Chris Henry, Head of Prepaid Cards Solutions at GB Group said: "Prepaid card providers are looking for ways to protect their business against the risks of fraud and money laundering while adding value to their consumers and retail partners by offering practical and exciting services.
"Using URU, Tuxedo is benefiting from everything that online ID verification and fast straight through processing offers - maximum customer uptake, peace of mind through protection and the gathering of accurate customer information that can be used for strategic marketing campaigns and product development."
GB Group is the UK's leading provider of ID verification services for the prepaid market, with clients including firstprepay and Altair.

Click here to find out more on URU or the above story.

AGM trading update, 19th July 2007

At GB’s Annual General Meeting held today, John Walker-Haworth, the Chairman, provided the following update on the Group’s trading after the first quarter of the new financial year.

Under the UK Listing Authority’s Disclosure and Transparency rules, GB Group Plc is required to publish Interim Management Statements (“IMS”). This update also serves as the first IMS of the Company for the period from 1 April 2007 to 19 July 2007.

Overview
Group revenue to the end of June was £3.7m (2006: £3.1m), an increase of 19% on the previous year. Cash balances at 30 June 2007 (pre-dividend) were £5.3 million (March 2007: £5.2 million).
The Group’s overall trading performance for the first quarter was ahead of our expectations reflecting a good performance in GB’s traditional business areas. Revenue performance in GB’s DataAuthentication business, which provides electronic identity verification solutions, was £1.3m, approximately 20% up on the same period last year but broadly in line with the preceding quarter to 31 March 2007.

DataAuthentication
GB’s pipeline of major opportunities is encouraging and we expect to continue to close a good proportion of these during the course of the year although, based on current trends of longer sales lead times and the time taken to integrate DataAuthentication’s solutions, this is likely to be at a slower rate than initially expected.
In addition to growth from new clients, we expect our existing customers to increase their volume of usage. For instance, in the UK, we expect that the recent announcement of O2 (a GB client) as the UK’s exclusive distributor of iPhone will have a positive impact on GB’s volumes later in the year.

DataIntegrity and DataSolutions
Revenue performance in DataIntegrity and DataSolutions in the first quarter is ahead of the same period last year despite operating in challenging and competitive markets. The improved performance includes a substantial contract with Her Majesty’s Revenue & Customs, the success of which was due to the Group’s strategy to develop and introduce web-based solutions that provide real-time availability of data.

Outlook
We are pleased to end the first quarter ahead of our expectations at a Group level and with a robust balance sheet and resources to continue to grow our business.
The rate of growth for the Group is dependent on growth in our DataAuthentication business which, in turn, is expected to be weighed significantly towards the second half of the year. Accordingly, we need to remain cautious about the full year outcome in the light of our first quarter experience and pending further evidence of the market shift away from existing paper based methods to electronic methods of identity verification.

Release date: 19^th July 2007

Stamping out mobile fraud

Fraud is now at a record high in the UK. According to KPMG’s annual Fraud Barometer, it has hit a 10-year high with cases involving a total of £1bn reaching the courts. With the mobile business peculiarly vulnerable, Paul McManus looks at what can be done to improve the situation …(Mobile Business, 12 June 2007)To find out more how GB's innovative ID3's application, URU, can help in the telecommunication sector please click here.

Preliminary results for Year ending 31st March, 2007

GB Group announces preliminary results for year ending 31^st March, 2007.

Highlights included

Group revenue increased by 16% to £15 million (2006: £12.8 million)
DataAuthentication revenue more than doubled to £4.8 million (2006: £1.9 million)
DataAuthentication has increased its customer base to 174 as at 31 May 2007 from 101 at 31 March 2006.
Group has invested over £1 million in new technology and infrastructure to provide a platform for future growth.
DataIntegrity has launched online web-based delivery solutions and has successfully displaced competing products and services.
International ID verification service launched during the year. DataAuthentication’s solutions are now able to confirm a person’s identity electronically, within seconds, in 26 countries covering a combined population of some 800 million individuals.
Cash balances at 31 March were £5.2 million (2006: £6.7 million).
Proposed full year dividend of 0.75p per share (2006: 0.75p per share).

Commenting on current trading, John Walker-Haworth, Chairman, said:

“GB has substantially improved its prospects over the course of the year through its continued investment in developing its businesses.
These developments mean that the Group is well placed to continue its growth in the year ahead.”

Click here for full details of the announcement.

Release date: 5^th June 2007

GB Launches AML - CT Services in Australia

GB Group is launching its award-winning service in Australia as the country’s anti-money laundering and counter-terrorism (AML-CT) regime tightens its grip.

London Stock Exchange-listed GB Group is set to launch its award-winning, web-based ID3 electronic identity verification service in Australia as financial, legal and online gambling sectors grapple with new customer ID and due diligence laws that have now come into effect.
Developed jointly with global telecoms and networked IT giant, BT (British Telecom) for the UK market, the ID3 service can now confirm the identity of over 800 million individuals living in 26 countries within seconds.
Powered by GB Group’s ID3 technology, it is being used by over 170 organisations including four of the UK’s top five banks, major high street and retail companies and over 80 per cent of the world’s online gambling companies to authenticate the identity of customers as well as new employees.
The service works by matching an individual’s details against an extensive range of external databases for the country from which they originate. Within seconds, it provides an authentication score that either confirms or rejects the identity of the individual, enabling the organisation to make an instant decision on whether to accept or decline them. The client can utilise the service to embrace the concept of safe harbour as defined within the recent AML-CT legislation.
GB Group has entered into an agreement with technology services and solutions company, Unisys Australia, to make its electronic ID verification solution available to Australian businesses and expects to see wide adoption during the coming year.
“Our ID3 service is being used by the UK’s largest financial organizations such as Lloyds TSB, Mobile telecommunications company’s such as O2 and the world’s largest online gambling companies such as Betfair because it responds to every current and foreseeable future need under strict anti-money laundering and fraud regulations,” says GB Group chief executive, Richard Law.
“It is safe, fast, accurate and produces an all-important audit trail. It is also highly cost effective because it automates manual ID processes and costs about a fifth of a standard manual ID check.
“ID3 is tried and tested in the UK and Europe, where organizations are using the service to abide by regulations that are almost identical to those that have just come into force in Australia.
“Organizations using the service are using it to protect both their customers and themselves against money laundering and fraud. The Australian Federal Police has estimated that federal crimes, such as money laundering, cost between $1 billion and $4 billion in Australia each year.
He continued, “the proceeds of fraud and money laundering are often used to fund serious organised crime such as drug trafficking and terrorism. For this reason, it may not be long before more industry sectors in Australia are governed by strict anti-fraud and money laundering legislation.
“Australia has been at the front line of the battle against fraud and money laundering and has always taken a radical stance on these matters – our ID3 service will provide the next step in this campaign, and will help organizations to protect hard won reputations and consumer confidence.”
“We are delighted to be working with the GB Group to provide the ID3 electronic identity verification service in Australia,” said Rob Dewar, Managing Partner, Financial Services, Unisys Australia and New Zealand. “GB is recognised as one of the leading players in electronic ID verification globally and ID3 is tailored to the requirements of the Australian market, in particular the new AML-CT regulations which take effect in the near future. ID3 is being provided to Australian businesses as part of our Enterprise Security and AML program. As expected, the response so far from Australian businesses, particularly financial services organisations, has been encouraging.”

UK fraud fact box

Fraud is now at a record high in the UK. According to KPMG’s annual Fraud Barometer, it has hit a "10-year high" with cases involving a total of £1bn reaching the courts
Police figures released in early March put the total cost of fraud at a minimum of £13.8bn. 45% of the fraud investigated by the police is believed to have been instigated using identity theft. (Metropolitan Police, March 2007)
In 2006, the cost of identity fraud to the British economy reached £1.7 billion, an increase of over 30 percent since 2002 (Home Office, 2006)
Online banking fraud increased by nearly 45% percent between 2005 (£23.3m) and 2006 (£33.5m) (APACS, 2007)
Fraud against financial institutions – card fraud, identity fraud, false cheques - has spiralled dramatically, up from £37m in 2004 to £360m in 2005 (KPMG Fraud Barometer, 2006)
Card-not-present fraud is now the largest type of card fraud in the UK and accounts for nearly 50% of all card fraud losses, reaching £212.6m in 2006 (APACS, 2007)
Online retailers could be losing over half a billion pounds in fraud according to a new report by prepaid card provider 3V and industry body, IMRG (IMRG, May 2007) It can take victims of fraud up to 300 hours work and cost £8,000 to clear their name when a fraudster takes over their identity (Source: Callcredit, UK-based credit referencing organisation)

Click here to find out more on URU or the above story.

ABTA has joined forces with international fraud prevention specialist GB Group to help combat holiday fraud scams and money laundering rackets.

ABTA (Association of British Travel Agents) has joined forces with international fraud prevention specialist GB Group to help combat holiday fraud scams and money laundering rackets.

The association will be using GB Group’s web-based URU service to vet owners and directors of travel businesses before handing them licenses.
URU, which is powered by GB Group’s ID3 technology, confirms the identity of individuals within seconds and is already used by major retail and banking organisations and over 80 per cent of the world’s online gaming companies to authenticate the identity of new employees and customers.
Over the coming year, ABTA will also work with GB Group to provide a service to its membership – including over 6,000 travel agencies and 850 tour operators - to help prevent card-not-present fraud which cost the industry £24.1m last year according to banking trade body APACS.
The service will enable members to positively confirm the identity of individuals who buy tickets and holidays remotely by card over the phone and online, as well as in-store.
Travel agencies and tour operators will get the chance to see GB Group’s URU service in action at ABTA’s 6 June ‘Stamp Out Fraud’ event, which is taking place in association with the Metropolitan Police, ATOL, Travel Trust Association and Teletext. GB Group’s travel and leisure fraud prevention expert Richard Melrose will be addressing fraud issues alongside ABTA’s head of financial services Mike Monk, and experts from KPMG, Davenport Lyons and Baker Tilly.
Mike Monk, Head of Finance at ABTA said: “The rise in holiday and money laundering scams is of great concern to us – we will be using GB Group’s URU service to help stop the people behind these scams from damaging the reputation of the travel industry.
“We will also be working with GB Group to provide our members with a URU service to help combat card-not-present fraud, which is not only costing millions in lost profits every year and ruining hard won reputations but is damaging consumer confidence in the industry.
“The service for our members will work by matching customer details against an extensive range of external databases for the country from which the customer originates. It will then provide an authentication score that either confirms or rejects the identity of the customer within seconds, enabling the agent or travel operator to make an instant decision on whether to accept or decline a reservation before completing the sale or dispatching tickets.”
Richard Melrose, travel and leisure fraud prevention specialist at GB Group, said: “Holiday scams, money laundering and fraud on credit and debit cards are now major issues not just for the travel industry but to society as a whole. There are many incidences where innocent travel companies working to tight margins have had to shut down due to these problems, while consumers continue to be concerned by the possibility of being victims of scams. The wider issue is that the proceeds of fraud and money laundering are also often used to fund serious organised crime such as drug trafficking and terrorism.
“For this reason it will not be long before the travel industry is governed by strict anti-fraud and money laundering legislation that already regulates financial and online gambling industries.
“For more than a decade, ABTA has been at the front line of the battle against fraud and money laundering and has been working with the likes of the Civil Aviation Authority, Metropolitan Police and the International Air Transport Association to detect and prevent it. ABTA has always taken a radical stance on these matters – introducing our URU service is the next step in this campaign.”

Fraud - fact box

In 2006, cardholder-not-present fraud rose by 16% to £212.6 million, while card fraud against the travel industry increased by £800,000 to £24.1 million. (Source: APACS).
Fraud costs the world's airlines more than £300 million a year and has grown five-fold since 2000, yet 65% of carriers have no anti-fraud measures. (Source: Deloitte and the International Association of Airline Internal Auditors).
It can take victims of fraud up to 300 hours work and cost £8,000 to clear their name when a fraudster takes over their identity (Source: Callcredit).

Click here to find out more on URU or the above story.

Fighting ID Fraud

New legislation, increased data sharing, electronic verification and background checking are just some of the ways the industry is trying to combat IF fraud. Karen Murray reports…(Mortgage Finance Gazette, 1 May 2007)Specialist electronic ID verification company GB Group said that its ID3 verification technology, recently implemented by Beacon Homeloans for its packagers, has been able to reduce fraud by up to 70 per cent. To read the whole article please click here.

GB Group announces strong commitment to its ID3-Check service for international ID verification

GB Group has today announced significant progress in the uptake of its ID3-Check service, launched at last year's EIG gaming event in Barcelona. ID3-Check follows on from the success of URU™, which the majority of gaming operators use to verify the identity of their UK customers in order to combat age and identity fraud.

Probability Gaming has committed to GB Group as a strategic partner for identity verification of all its customers, using both URU and ID3-Check. It joins a number of organisations across the globe who have partnered with GB Group to combat age and identity fraud at an international level.

Charles Cohen, CEO of Probability Gaming explains: "We have been working with the team at GB Group for some time now, and have already used URU to build a robust "end to end" mobile ID and age verification tool for UK players. The service processes thousands of new customers quickly and reliably.

“Since mobile gaming is a new sector, and given the ubiquitous nature of mobile phones, it is even more important that we use the best tools and technologies on the market to prevent underage and fraudulent play. The addition of an international tool to the ID3 platform has meant that we can now ensure we have the same robust procedures for all our customers, regardless of where they are located.”

The quality of the checks guarantee we meet our regulatory requirements in the UK and internationally, without having to compromise the user experience in any way. ID3-Check's match rates are exceptional and we look forward to working with GB Group to address the challenges of maximising legitimate customer sign-up rates."

Emma Lindley, GB Group's Head of Leisure and Retail for DataAuthentication confirms: "Clients understand that the ability to integrate ID3-Check seamlessly into their existing customer sign-up processes is giving them the same value as they have come to expect from URU. The ever-changing regulatory environment in the sector means that operators need to adopt a consistent approach to age and ID verification.

“Operators such as Probability Gaming are setting the benchmark by adopting a pro-active stance and exceeding regulatory requirements for sifting out legitimate players from potential fraudsters. By using our technology, they are able to meet the demands of the online gaming industry and its regulators. This strict approach to social and corporate responsibility can only have a positive effect on the overall brand reputation, and, ultimately, shareholder value."

Click here to find out more on URU, ID3-Check or the above story.

Betbrokers appoints GB Group to acheive Gold standard

Independent betting brokerage, Betbrokers, has appointed identity management specialist GB Group to help it achieve a “gold standard” in responsible gambling.

Betbrokers will be using GB Group's web-based electronic identity verification service, URU™, to verify the age and identity of all new customers to help prevent underage gambling, identity fraud and money laundering.

The company will also be using URU to electronically replicate its previously manual and paper-based identity processing system – a move that is predicted to reduce costs by as much as 70%.

URU, which confirms the identity of players within a matter of seconds, is allowing Betbrokers to process hundreds of new customer accounts every week.

The decision to use the service comes as Betbrokers’ chairman Wayne Lochner reveals customer numbers have grown by 25% since listing on AIM in October 2006.

He said: “As the world’s first independent betting brokerage, and a recent entrant to AIM, it’s vital that we set a gold standard for bringing on new players – and GB Group’s URU service is key to achieving this.

“The service means we are fully compliant with the UK’s Know Your Customer (KYC) guidelines and the Financial Services Authority’s money laundering rules - and because it verifies identities in a matter of seconds, it does not hamper the application process.

“We will be integrating URU with our wider customer management systems. This will help us to ensure that accurate details on verified customers can be used effectively in the sales and marketing process further enhancing the return on our investment in URU.” “

Betbrokers offers a unique service that allows customers to compare prices across bookmakers and exchanges with one phone call, rather than contacting individual bookmakers. The company also provides a confidential wholesale market, which allows bookmakers to trade between each other, laying off wholesale risks.

The company, which was recently named by eGaming Review as the industry’s “Start-up operator of the year” in 2006, appointed GB Group following a recommendation from its bank, Barclays.

Richard Law, chief executive of GB Group, said: “Betbrokers is a great example of a pioneering gambling company that is making it as difficult as possible for people to use its services illegally, while keeping a firm eye on protecting its customers and shareholders.

“Using URU, Betbrokers is safeguarding the business, its customers and shareholders against identity fraud, money laundering and underage gambling. In addition, it is a powerful demonstration to the industry at large of a strategic commitment to responsible gambling.”

Click here to find out more on URU or the above story.

SIFA Forges Ahead With GB Group On JMLSG

The agreement sees GB Group develop a customised version of its powerful URU service - recognised as Europe’s most sophisticated on-line identity verification service and used by financial firms including TD Waterhouse and intermediaries.

Working together with GB Group, SIFA will create a portal for the instant verification of new and existing customers’ information with outputs that can be shared with all stakeholders in the financial transaction.

Leslie Sharpe, Deputy MD of SIFA, stated: “Our member firms have long complained at the time required to check identities using traditional paper-based methods. We are also aware from discussions with the regulators that these methods are far from fraud-proof.

“We wanted to adapt an established web-based service to meet the needs of the various stakeholders, and to permit the instant and auditable verification of customers by electronic means. URU provides the ideal platform and we are delighted to be working with GB Group to build a customised version of URU specifically for the financial services industry.”

In 2005, product provider and adviser firm members of the Adviser Forum completed a project to resolve the differences and inconsistencies in identity verification across the sector. This culminated in the definition of the industry agreed benchmark, which was incorporated into the new JMLSG Guidance Notes. In response, GB Group was asked to develop a version of URU that would meet the new requirements for electronic identity checking in financial services.

Simon Ridge, Financial Services Manager at GB Group commented: “We are delighted to be working with SIFA on this project, which has taken a lead role in pioneering the move towards an industry standard for identity verification in financial services. Having a more risk-driven approach with greater consistency of results across the board will ultimately result in a more efficient, but compliant, industry.

“We see this as the first step towards straight through processing of customer applications, enabling information on the identity checking process to be shared by advisers, product providers and regulators alike.

“The transparency of the checks and matching system used within URU will enable product providers to accept applications in full confidence that they are fully compliant with all money laundering regulations, including the recently adopted JMLSG amendments. URU is also the only on-line service that replicates manual and paper based identity checking practices – shaving at least 70 per cent off costs for processing new customer applications.

“Advisers and brokers can now verify customers electronically, as encouraged to do by the regulations, and pass the information straight through to the ultimate product providers in a seamless, consistent and cost efficient fashion.”

Click here for notes to the editorSIFA (Solicitors For Independent Financial Advice) has signed an exclusive agreement with identity verification specialist GB Group plc to meet the requirements of the JMLSG industry benchmark for the verification of customer identities.