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Death records used to fight fraud | Death records used to fight fraud |
(10 minutes later) | |
About 140,000 death records have been released since September by the General Register Office in a bid to prevent identity fraud. | About 140,000 death records have been released since September by the General Register Office in a bid to prevent identity fraud. |
The data has been accessed by pension funds, banks and mortgage companies. | The data has been accessed by pension funds, banks and mortgage companies. |
Mortality checks found one woman claiming her aunt's pension to pay a mortgage 10 years after the aunt had died at the age of 98. | |
Home Office Minister Meg Hillier said the checks "will have a dramatic impact on fraudsters abusing people's deaths". | |
Estimates suggest that one in 400 pensions is still paid out after the death of the policyholder. | Estimates suggest that one in 400 pensions is still paid out after the death of the policyholder. |
The Home Office said that four credit reference firms have now been accredited for the record release scheme and will be receiving about 12,000 records each week. | The Home Office said that four credit reference firms have now been accredited for the record release scheme and will be receiving about 12,000 records each week. |
Effective way | |
They can check the data against loan and credit card applications, insurance payouts and pensions to guard against fraud. | They can check the data against loan and credit card applications, insurance payouts and pensions to guard against fraud. |
Keith Hollender, commercial director of the National Association of Pension Funds, said: "For many years, scheme managers have struggled to find an effective way to make sure they receive prompt notification of a member's death. | Keith Hollender, commercial director of the National Association of Pension Funds, said: "For many years, scheme managers have struggled to find an effective way to make sure they receive prompt notification of a member's death. |
"Genuine mistakes, for example when relatives forget to tell the scheme that a member has died, and deliberate fraud, can cost pension schemes and insurers millions of pounds both in terms of monthly cash outlays and incorrect valuations of liabilities." | "Genuine mistakes, for example when relatives forget to tell the scheme that a member has died, and deliberate fraud, can cost pension schemes and insurers millions of pounds both in terms of monthly cash outlays and incorrect valuations of liabilities." |
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