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BVRLA fights “opportunistic fraudsters” in rental and leasing industry with new system

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Author: | Updated: 11 Sep 2015 16:25

Vehicle rental and leasing companies are now able to identify and mitigate risks more effectively after a new version of the RISC risk management software was launched by the BVRLA (British Vehicle Rental and Leasing Association).

RISC 2015 on HP laptop

The new version of RISC (Rental Industry Secure Customer) database means that members can find details of prospective renters and log new incidents of problematic customers, and includes a heat map of the UK, which highlights risk activity in real time.

It can also issue general alerts on identity fraud, bogus websites, and a spike in the number of renters showing up with authentic-looking utility statements.

The new platform means that RISC can also be integrated more easily into members’ in-house software using an API.

Nora Leggett, the BVRLA’s Director of Member Services, said: “RISC is now an even more powerful loss prevention tool for our members.

“Opportunistic fraudsters and high-risk customers have become adept at sharing information to exploit vulnerable businesses. The collaborative environment of RISC will harness the power of the BVRLA community and help safeguard valuable assets.”

Some of the most common reasons for reports on RISC include non-conformance with terms and conditions, lack of payment, damaging the vehicle and abusive behaviour towards staff.

Leggett added: “We already have a fantastic, active community and these revisions to RISC mean there’s no reason not to use the system.

“Though RISC has been known as a rental tool, there is great potential to increase its capability and reach so it meets the needs of all members - leasing brokers, leasing companies and commercial vehicle operators.”

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