eFunds Targets Fraud and ID Theft

eFunds Corp. and its subsidiaries, Penley Inc. and Chex Systems Inc., are introducing new services designed to help financial institutions and their customers fight identity theft and fraud more effectively. The offering includes access to an advanced change of address analysis sendee and an identity theft protection monitoring service. To help verity the identity of new customers, Pcnlcy's ID Verification compares information supplied by account applicants against aggregated data records, including Chex Systems' proprietary DebitBureau database. When discrepancies arise, the service assess the likelihood of fraud. Chex Systems' identity theft prevention service for consumers, [Defend, offers weekly credit monitoring, and later this year it will add DebitBureau monitoring, an annual credit report, a personalized protection plan, custom fraud alerts, recovery assessment from a trained recovery advocate (for victims), and up to $20,000 in lost wage and expense reimbursement. eFunds, Scottsdale, Ariz., is a provider of risk management, electronic payments and global outsourcing solutions. For more information about these services, go to www.efunds.com.