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Compliance Tools for Small Business: MicroBilt Corporation Offers Simple Solutions for Risk-Based Pricing, Red Flags, FCRA Training, OFAC

Kennesaw, GA (Vocus/PRWEB) January 18, 2011

MicroBilt Corporation, a leader in risk management information for small and medium-sized businesses and leading provider of alternative data for non-traditional lenders has introduced its built-in Risk-Based Pricing solution across all its customer accounts, expanding its comprehensive set of compliance tools for businesses that use data governed by the Fair Credit Reporting Act (FCRA).

The Risk-Based Pricing Rule under the Fair and Accurate Credit Transactions Act (FACTA) under the FCRA became effective January 1, 2011 and requires companies that use a credit report or score in connection with a credit decision to provide a risk-based pricing notice to a consumer when the company grants credit on material terms that are not the most favorable terms offered to a substantial proportion of consumers. Risk-based pricing is the practice of setting the interest rate or other terms of credit to a consumer based on the consumer’s credit report or score.

The Risk-Based Pricing Rule provides companies with two compliance options: the Risk-Based Pricing Notice or a Credit Score Disclosure Exception Notice. MicroBilt offers the Credit Score Disclosure Exception Notice as a standard service for all customer data contracts.

Red Flag Rules Also Effective January 1, 2011

The Red Flag Rules of the FACTA under the FCRA also became effective January 1, 2011 after several extensions. The Red Flag Rules require credit providers to define their processes for detecting Red Flags in identity verification, such as discrepancies in address histories, fraud alerts on consumer reports, suspicious use of Social Security numbers, inactive accounts that suddenly become active, credit-freeze notifications, credit reports showing unusual patterns of activity, notices from victims of identity theft or law enforcement agencies and discrepancies between applications and third party information.

MicroBilt offers Red Shield, MicroBilt’s FACTA Red Flags solution, which is designed to eliminate some of the most difficult front-end steps in the Red Flag process. It analyzes the likelihood of identity fraud and provides a “Pass” or “Fail” grade. If a transaction passes, it is automatically guaranteed against fraud for up to $ 25,000. The consumer is also protected against identity-theft losses for another $ 25,000. If a “fail” response is returned, the client is given a range of manual options that can be used to reduce the risk of identity theft or fraud in the transaction.

MicroBilt offers a low cost, on-demand FACTA Red Flags Training course designed to meet the Red Flags training requirements and to make understanding the Red Flag Rules fun, fast and easy. An online, real-time FACTA Red Flags hotline — that responds to Red Flag questions within 24 hours is available. MicroBilt also offers an on-demand training of Fair Credit Reporting Act which requires users of consumer reports to follow specific rules and guidelines when using private consumer data. FCRA compliance regulation responsibilities can be complex and any business that deals with consumer data must understand the basic concepts and provisions of the FCRA to ensure it adheres to the FCRA compliance regulations.

OFAC Compliance

MicroBilt also offers OFAC compliance by providing access to extensive anti-terrorist “watch list” searches as part of its standard credit and identity reporting. MicroBilt screens more than 60 critical “watch lists” including those maintained and mandated by the US Treasury Department’s Office of Foreign Assets Control (OFAC).

“For smaller businesses in particular, keeping up with federal regulations and their compliance with those regulations such as Risk-Based Pricing, Red Flags, FCRA, OFAC, etc. is a major challenge,” said Walt Wojciechowski, CEO of MicroBilt. “Along with the obvious business risks of non-compliance, the legal penalties associated with violations of these regulations can be devastating to the small business. With our simple compliance tools, we’re trying to help customers do more business with less risk and less confusion without having to become experts on federal regulations.”

About MicroBilt

MicroBilt is the leader in serving small businesses with data and tools that they need to manage business risk, value private businesses, make informed lending and hiring decisions. MicroBilt offers the small business owner simple, cost-effective solutions for fraud prevention, consumer financing, debt collection, skip tracing and background screening. MicroBilt provides access to over 3 billion debit account records, nearly 30 billion pieces of demographic and public record data and over 100 million unique consumer records to prevent identity fraud, evaluate credit risk and retain customer relationships. With its PRBC® Consumer Report with the FICO® Expansion® Score and its unique, proprietary non-traditional lending data, MicroBilt is the leading provider of alternative credit data to businesses that want to offer credit and other financial services to the over 100 million underserved consumers in the United States.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

WVU to Offer Nation’s First-ever Doctoral Program in Business Administration Specializing in Forensic Accounting and Fraud Investigation

Morgantown, WV (PRWEB) October 05, 2011

West Virginia University’s College of Business and Economics has announced that it will offer the nation’s first-ever Ph.D. program in accounting that offers a specialization in forensic accounting and fraud investigation.

The announcement comes in the wake of WVU’s highly successful and internationally renowned Forensic Accounting and Fraud Investigation (FAFI) program, as well as an international job market that is hungry for qualified forensic accountants and fraud investigators. The program will officially offer a Ph.D. in Business Administration with a concentration in Accounting, and will center its effort on those candidates with an interest in fraud, forensics and ethics research.

“West Virginia University’s Forensic Accounting and Fraud Investigation program has been a model for other colleges and universities across the country,” said WVU President Dr. Jim Clements. “Our expertise has made us a national leader in this field, and the addition of the Ph.D. program will provide WVU with an important opportunity to create scholars in the areas of fraud, forensics and ethics. I applaud the faculty for all they have done to make this possible.”

“Expanding doctoral programming is key to the achievement of our strategic goal to advance WVU’s research reputation,” said Dr. Michele G. Wheatly, Provost and Vice President of Academic Affairs. “The new Ph.D. program responds to this clarion call with innovative programming that will resonate with both industry and national needs.”

WVU’s business school plans to admit the first group of students to the program in August 2012. The program has been designed to prepare qualified individuals for a career in scholarly accounting research and teaching at the university level.

“This is an exciting time for West Virginia University and our expertise in the areas of forensic accounting, fraud investigation and ethics,” said Jose V. Sartarelli, Milan Puskar Dean, College of Business and Economics. “This new Ph.D. program is the next logical step in building a complete educational offering in these specific areas, and that step is due to the commitment and expertise of our excellent faculty. This program is a reflection of their long and dedicated work.”

Each doctoral student will be paired with accounting faculty, working closely with students and serving as research mentors throughout the duration of the program. The training, background and interests of the doctoral faculty support behavioral and archival research in fraud, forensics and ethics across the functional accounting areas of accounting information systems, audit, financial, governmental, international and managerial accounting. Therefore, the most competitive applicants for consideration would be those with an interest in fraud, forensics and ethics research.

WVU has a longstanding relationship with the Association of Certified Fraud Examiners (ACFE), and its College of Business and Economics houses the Institute for Fraud Prevention.

The university has also assumed a leadership position nationally and internationally in the business of forensics. The FORESIGHT project, funded by the National Institute of Justice, is designed to enhance the business expertise of forensic laboratories. The project has clients from across the country and around the world that are eager to better operate their forensic labs through a more comprehensive understanding of “the forensics of business and the business of forensics.” That topic was the subject of a WVU presentation last year to INTERPOL, the International Criminal Police Organization, at its headquarters in Lyon, France. INTERPOL has 188 member countries and is the largest organization of its kind in the world.

Dr. Sartarelli and Dr. Paul Speaker were also featured speakers at the International Association of Forensic Sciences in Funchal, Madeira, Portugal, in mid-September. The WVU officials led discussion in the areas of the forensics of business, the FAFI program and how to use the FORESIGHT project as a platform for quality.

“Our expertise and our experience provide a strong foundation for this Ph.D. offering,” Sartarelli said. “We have every confidence we will help produce scholars that will teach students who are eager to enter a growing forensic accounting and fraud investigation job market.”

For more information, go to http://www.be.wvu.edu/phd_accounting/index.htm , or contact Dr. Tim Pearson at timothy.pearson(at)mail(dot)wvu.(dot)edu or 304-293-7847.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Building Business Credit: 20 Essential Questions to Focus On

Where does your company stands in the business credit building process?

One of the most important things you should first learn to do is ask the right questions. One of the classic mistakes that many business owners tend to make is moving forward in establishing credit for their business without having the proper framework in place.

Instead you can end up feeling scattered and spend lots of time trying to back track and correct mistakes you’ve made. These mistakes can cost you higher rates of interest, reduced credit and loan amounts, and even impact your personal credit scores. Without properly separating your personal credit from business credit you can even jeopardize the protection of the corporate veil which may end up putting your personal assets at risk.

So in order to help you prevent from making those costly mistakes here are 20 essential questions you should focus on:

1) How long has your company been in business?

2) Does your company have a business plan?

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3) How many employees are working for your company?

4) Does your company accept credit cards? If so, what’s your total amount of credit card sales transactions?

5) What are your company’s gross monthly revenues?

6) How do you operate your business? (i.e., corporation, LLC, etc.)

7) Does your company have a Federal Tax Identification number?

Does your company have the “required” licenses and/or permits to operate legally?

9) Does your company have a commercial address?

10) Is your business phone number listed with directory assistance?

11) Does your company have a small business bank account?

12) Does your company have a “low 5″ bank rating?

13) Does your company have a website and dedicated email address?

14) Does your company have a DUNS number?

15) Does your company have vendor credit lines (trade credit)?

16) Does your company have a Paydex Score?

17) Does your company have an Intelliscore?

18) Does your company have a Small Business Credit Risk Score?

19) Does your company have a strong blend of account types reporting on its credit files?

20) Does your company have a reporting bank loan or line of credit?

Each of these questions serves a unique purpose and should not be taken lightly because it impacts your company’s ability to obtain credit. By answering these questions you should have a much better perspective of where your business stands in the process.

Use these questions as a reference point as you work your way through the process and you may want to consider utilizing a system that can track all your progress which can save you a great deal of time.

Keep in mind it is a process and building business credit is not something that happens overnight. So stay focused and consistent as you work your way to establishing your company’s creditworthiness.

Do You Need Business Insurance Singapore coverage for Your Internet Business?

Organization insurance Singapore is something to take into consideration when you start a company because any type of organization may need the protection which insurance Singapore provides every now and then. An internet business is a little completely different from a traditional brick-and-mortar business simply because generally, customers never visit the place of business. Additionally, most internet companies are home-based, so homeowner’s insurance Singapore may well cover basic organization equipment such as a private computer and associated computer equipment. Thus, with an internet-based business, the principal concern is not actually protection from loss of products and materials; even an internet business may require some type of insurance Singapore defense. There are several types of company insurance Singapore that many companies simply can’t accomplish without. Some of the typical types of insurance with regard to businesses include residence insurance, liability insurance Singapore coverage, worker’s compensation insurance, negligence insurance, and pay as you go legal insurance Singapore.

Naturally there are other types of insurance coverage for business owners along with their employees for example health, dental, eyesight, and life insurance plan. Learning about these several types of insurance and examining your own situation will aid you to determine what type of economic insurance you need for the internet business.

Property Insurance Singapore policy

Property insurance is often required if you book or finance organization property. If your internet-based customers are in your home, confer with your homeowners’ insurance provider to find out in the event that your homeowners’ policy handles your business equipment.

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Whether it does not, and the valuation on your equipment is minimum it may not be in your greatest interest to purchase a policy particularly to cover your company equipment and accessories because you may end way up paying more throughout insurance Singapore premiums than what your organization equipment and accessories are even really worth.

On the other hand, if you have costly business equipment throughout your home office, you may want to insure it towards damage or damage.

Liability Insurance Singapore

Responsibility insurance is a type of company insurance that any kind of business may need, perhaps an internet-based business. Culpability can arise coming from just about any type of business. In the event you provide products or services to be able to consumers, or even for you to other businesses, often there is a potential for culpability.

Weighing your danger is the best way to see whether or not you need legal responsibility insurance for your organization. Worker’s Compensation Insurance Singapore Workers comp insurance Singapore is required for the majority of businesses that have workers. However, the requirements can vary from state to state. As an example, in some states, about to catch required by law to possess worker’s compensation insurance Singapore until you have three or maybe more employees.

Worker’s compensation insurance Singapore policies are the type of business insurance coverage that pays healthcare expenses and lost pay for employees who will be injured on the job. Regardless of whether it is required by legislations for your situation, should you have any employees in any respect, purchasing workers’ pay out insurance Singapore will reduce your potential culpability if an employee is actually hurt on the job.

Malfeasance Insurance Singapore

Malpractice insurance Singapore policies are necessary for businesses that supply professional services these kinds of which require accreditation. Professional liability insurance coverage is another term used with regard to malpractice insurance Singapore. It is crucial for businesses that present services such as advising, medical services, executive services and so on.

Prepaid Legal Insurance coverage

Prepaid legal insurance policy has become quite popular recently. It is an insurance policy which covers legal bills such as attorney service fees. Many individuals and organizations alike find that pay as you go legal insurance is a security net that is attractive because if they require legal assistance, they just do not have to worry about the retainer charges and expensive costs from attorneys.

If you frequently be forced to pay attorney fees first reason or another, pre-paid legal insurance could possibly be an option for you to definitely consider.

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NationalCreditReport.com® Earns Better Business Bureau Accreditation

Delray Beach, FL (PRWEB) April 26, 2011

NationalCreditReport.com®, a leader in credit report, credit score and credit monitoring services, proudly announces that it has been accredited by the Better Business Bureau and commits to continuing its high standard of quality and customer care to further serve its customers.

“NationalCreditReport.com® has worked very hard to earn our accreditation by the Better Business Bureau and we are pleased to have met the requirements necessary to show our commitment to our customers, our products and our marketplace,” said Samuel S. Ambrose, Vice President of Marketing & Operations for NationalCreditReport.com®. “It is of great importance to us that our customers are pleased with the service that we provide to them and with our new paid upfront business model, now firmly in place, we are very excited about our future.”

NationalCreditReport.com® recently began offering a new product that allows consumers to solely buy their credit reports with no free trial of a credit monitoring service. “We have differentiated ourselves in the credit reporting market space by focusing our sales efforts on offering customers one simple purchase of their credit report and score,” said Ambrose. “Many of our customers have told us that they want the ability to buy their credit reports and scores without being automatically enrolled in any free trial or any recurring subscription programs and we have obliged with our new paid up from products. We still offer credit monitoring services however, now it strictly an opt-in only add on.” NationalCreditReport.com is currently one of the only credit report, score and monitoring companies in the nation that is marketing paid up front product that does not automatically enroll consumers in any free trials.

About NationalCreditReport.com®

Since 2004, NationalCreditReport.com® has specialized in providing credit information and credit monitoring services to consumers to help with understanding their credit report and raising their credit scores. NationalCreditReport.com® is the only company in the credit report industry that gives consumers the opportunity to buy a credit report with no free trials NationalCreditReport.com® encourages consumers to check their credit report on a regular basis.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Capital Business Credit Positions to Expand in Core Markets

New York (PRWEB) February 10, 2009

The sale of Capital TempFunds to Wells Fargo & Company, announced yesterday, positions Capital Business Credit LLC to concentrate on significant market opportunities in its core factoring business. On the completion of the sale, Capital Business Credit will have substantial equity and lines of credit to respond to increasing demand for its funding services to assist businesses in this very difficult financing climate.

“We’ve chosen to redeploy our resources to focus on our primary business,” said Andrew Tananbaum, President and CEO of Capital Business Credit. “There are lending opportunities for Capital Business Credit within our core markets and it is important that we have surplus capital to meet the needs of our clients.”

Capital Business Credit (http://www.capitalbusinesscredit.com) is a world-class commercial finance firm that delivers personal service to companies with annual revenues ranging from $ 1 million to $ 500 million. Lending primarily to those in the apparel, furniture, footwear, jewelry, electronics, and houseware industries, the company is a viable and often preferred alternative to bank financing and large non-bank factors. Areas of specialization include asset-based lending, factoring, credit protection, accounts receivable collection services, and supply chain finance.

Capital Business Credit LLC is headquartered in New York, with regional offices in Los Angeles, Fort Lauderdale, Charlotte, and Hong Kong. Lazard is acting as sole financial adviser to Capital Business Credit LLC in this transaction.

To learn more, call (212) 887-7905 or visit http://www.capitalbusinesscredit.com.

Media Contact:

Deborah Straus

Ambit Public Relations and Advertising

954-568-2100 x 106

deborah(at)ambitmarketing.com

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



VerifyFraud.com offers new service to prevent credit card fraud to internet business owners.

(PRWEB) March 15, 2000

Phoenix, Ariz.–(BUSINESS WIRE)–Zannders Internet group, a leading online verification service announced today it’s launch of http://www.Verifyfraud.com verification service.Internet merchants are 100% liable for online credit card fraud. VerifyFraud.com can easily and quicklyreduce the risk and exposure to fraud on any business website. VerifyFraud canverify the shipping address andcontact the true cardholder for any internet business to confirm the validity of the order. This will reduce the time and effort and the amount of chargebacks to prevent fraud on the internet.Visit website at http://www.verifyfraud.comNew system can verify any orders:* Orders Using an Alternate Shipping Address* Express Overnight Request Orders* Above-Average Sales Orders* Suspicious Orders* Any order that you would like verified

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Lee HarrisonÂ’s Credit Restoration Business Celebrates 28 Years of Credit Repair

Naples, TX (PRWEB) September 27, 2004

Lee Harrison Credit Restoration is celebrating its 28 year anniversary of being in the business of credit repair.

During this time he has been a leading light in the credit repair industry. His credit repair service helps people who have experienced bad credit, bankruptcy or identity theft to repair and restore their credit.

Many people with credit problems are unaware that their credit can be repaired. Lee Harrison and his staff educate their clients about the benefits to repairing and restoring their credit, help them repair their credit, and stay with them for life to make sure that they continue to maintain a good rating.

Good credit is a must when applying for a mortgage or for obtaining car loans or other types of financing. Having bad credit or bankruptcy can severely affect an individualÂ’s lifestyle. It can take its toll on an individual and their family. Credit restoration enables clients to regain their financial and personal freedom. This helps them to improve family relationships, and lead happier, less stressful lives. Lee HarrisonÂ’s clients include both individuals and businesses.

With Lee Harrison Credit Restoration, clients enter into a lifelong relationship. This relationship is built on 27 years of performance, trust, satisfied clients, and effectiveness in repairing credit. Credit restoration will clean up the credit history and improve the credit score. The credit restoration process is quick, simple and effective. The actual credit repair is completed in 60 to 90 days. Lee Harrison then offers the peace of mind of staying with the client for free for their lifetime.

About Lee Harrison Credit Restoration

For 28 years, Lee Harrison Credit Restoration has helped individual and business to repair and restore their credit. They specialize in the fields of bad credit, bankruptcy, and identity theft.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

SECURITY – How to protect your online business from credit card fraud?

What is Online Credit Card Fraud?

Keeping cash in your pocket, you take the risk that it might be stolen and spent without your knowledge. It’s the same with online payment. There is a possibility that your credit card data may fall into the wrong hands. It can happen to anyone just like pickpocketing or other forms of fraud. However, taking the right preventive measures, both buyers and merchants can avoid such problems.

Online sales is considered to be card not present (the cardholder is not physically present) transaction. It means that signature-based fraud prevention techniques are all of no use, as merchants never get a chance to see payment cards any more.

Before entering any sensitive information, always make sure that the URL is safe, the merchant is reliable, and always check the presence of SSL certificate.

In order to protect ourselves from identity theft and scams, we obviously need to be mindful when providing personal information. However there’s no reason to hesitate to share reasonably required data (like address, phone number and so on) securely and for our own good. The more cautiously card holders are identified the stronger protection keeps their data safe.

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Now, should you consider any charge (showed up on your checkbook register or your bank account statement) to be unauthorized, do not hesitate to contact your bank.

What is Chargeback and how to prevent it as an Online Merchant?

Simply speaking, chargeback is the return of a transaction to the consumer. It is initiated by the card issuer bank upon a complaint by the account holder. Chargeback is an unfriendly way of returning funds. Normally it happens by some confusion about the charges or fraud activity that finally leads to painful extra fees at merchant’s side. 

Each business operating in online payment industry aims to get a huge traffic, keeping chargeback ratio as low as possible.

Chargebacks can result from a number of reasons. The good news is, most of them can be prevented. The two most important components of prevention are professional Client Service and Fraud Detection. Now let’s see how Escalion can protect your business.

Antifraud – fraud prevention

Running an online business, are you really aware of the newest tricks in credit card fraud? Do you know where the weak links are in your system, which can easily be misused by a slick online fraudster within seconds?

Well, probably not, because it’s not the merchant’s responsibility. Such issues necessitate experts like Escalion, so you can focus solely on your business

A well-designed fraud prevention system is made up of the following main elements:

Reliable, efficient, scalable and sophisticated automation systems
A team with several years of experience in fraud prevention

Without these key elements, the web business loses a considerable amount of incomes. One of the most common mistakes merchants make is to refuse lots of non-fraud transactions by using predefined filters alone.

The secret is, implementing the right automatic tools and keep it under the control of watchful experts twenty-four hours a day, seven days a week. Building a successful online business, this is what a payment service provider can really chip in with. Maximum profit while cutting losses and risk.

Fulfill all the business needs from the reliable credit cards and visa cards processors

In most of the businesses every step of sales process needs to handle very carefully to attain perfection. Retail business is one of the most unpredictable amongst all the businesses. In thick and thin of business matters, people need good financial supports for smooth going sales without any kind of hindrances.  Now there are service providers that offer advance cashes and also make easy and confident processing of the credit card and visa card for all the merchants regardless of the size of business. They are the most reliable credit card processors and fund providers offering there services at the best rates in the entire market.

 

These reliable service providers of Credit Card processing New York complete every processing of financial cards in very minimum time. Unlike other banks and finance companies, the clients are assisted for each and every small thing without any tension by the excel staffs who are available 24 hours everyday. There are no unreasonable demands and no complicated card processing procedures, they guarantee processes without tiring and frustrating the customers with unnecessary hassles. They value customers’ time and money because time is money in all kind of work. Their customer friendly professionals are helping clients round the clock for short and simple application to initiate the processes at the soonest.

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The financial companies for CC processing New York are the best in these kinds of services. They offer quick procedure that provides same day approval of the applications applied by the clients. Along with credit card processing, they also offer free terminals, personalized customer services and complimentary merchant accounts. There are no application and set-up fees. Fraud protection credit cards are guaranteed by them.

These financial firms of Visa card processing NY are providing the valuable services at the most competitive prices. The necessary technical support and agents are accessible 24/7 to ease this kind of card processing sale, so the clients who need assistance can contact the experts any time if they face any problem. Visa cards and credit cards processed by these companies have helped the merchants in smooth and easy progress of their business.

So it is very essential to make clever and judicial choice in financial matters because money plays main role in the entire work we do. Clients do not need to pay huge installment and high interest for any kind of card or advance cashes. These reliable companies offer their services at affordable rates. Enjoy easy installment, the lowest interest rate and on time delivery of your credit card and visa cards from these leading financial firms.

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