European group to beat the fraudsters together: the EFSG

Other articles in this edition of e-news have covered the global issue of fraud, and one important way that organisations around the world can work together to deal with fraud is through the sharing of information.

With this in mind, Experian hosts a forum called the European Fraud Sharing Group (EFSG), in which factual, fraud-related information is freely shared between professionals employed in fraud and risk departments of financial and economic institutions all across Europe, aiming to fight fraud collectively across the borders and reduce fraud losses in a joined effort. The EFSG is now an established communication platform, in which fraud warnings can be disseminated and collective issues can be addressed, aiming to reduce (or even prevent) the consequences of financial fraud for all participating financial and economic institutions, regardless of other commercial interests.

Today, the EFSG has an Administration Group consisting of members representing several European countries; Christoph Mathys from Viseca in the Czech Republic, Kati Bjorninen from Luottokunta in Finland, John Mossblad from SEB in Sweden, Thomas Christensen from PBS in Denmark (all pictured below), plus Marcin Maslowski from BZW Bank in Poland and Kerry Avis representing Experian.

Discussing its inception, Kati Bjorninen said: “The EFSG started informally with people sending emails to each other about new common points of purchase (CPPs) and test sites, and the email list just started to grow as people introduced friends. It was decided by these people that they should formalise the group, and we had a meeting Copenhagen in 2006, to which approximately 20 people attended. One of the members was working with PBS when he joined the group, then he moved to Experian and subsequently got our organisation involved in developing and hosting the forum site, which was launched in September 2007.”

The EFSG works by members logging on to a website forum, where they can post messages, information requests, discuss fraud topics and share contact details. Today, the EFSG has 336 members from more than 80 European issuers and processors in nearly 30 European countries sharing transaction fraud-related information. The EFSG is an open organisation without any hierarchical structure, and affiliation to the group is established, in principle, on a ‘member-invites-member’ basis, a principle that ensures the integrity of the group, which is crucial when managing highly confidential information about fraudsters. However, spontaneous special application requests may also be taken into consideration.

"Millions of Euros in counterfeit fraud losses are prevented through the use of this forum..."

“We are always looking to grow membership and we would like some more UK and French members to create a bigger footprint on the European map, but we must always maintain the integrity of the group.” said Kati Bjorninen.

The benefits for group members are significant. Topics regularly discussed include the sharing of information about terminals and ATMs that have been compromised with card cloning equipment, and sources of recent data compromises. The EFSG is also currently playing a significant role in helping members from different countries combat the increasingly important issue of cross-border ATM fraud by sharing information.

In financial terms, millions of Euros in counterfeit fraud losses are prevented through the use of this forum, and its importance will only grow as it proves to be vital tool in dealing with the increasingly international scope of today’s fraudsters.

Kerry Avis

Consultant - Fraud & Identity Solutions

Decision Analytics

Experian

Mail us to get in contact with the EFSG and submit for affiliation