Every application checked.
Every member protected.
Commercial credit fraud rarely looks like fraud on the application. It looks like a new customer with good references and a big first order. Vetted Credit™ looks behind the application, at the patterns fraudsters can't hide.
Results you can act on, not a black box
Checks start the moment an application is submitted, without keeping the applicant waiting, and run again whenever new information arrives, such as a reference answering, a related application elsewhere, or an update to the sanctions lists. Each result says exactly what was found.
New checks are added as fraudsters change tactics, and your NACM affiliate can choose which ones run for your business.
Nothing wrong found
The check ran and found nothing to worry about.
Worth knowing
Not a problem by itself, but part of the picture.
Look more closely
Unusual. Ask a question or verify before approving.
Strong sign of fraud
Your credit team is emailed straight away.
What Vetted Credit looks for
Sanctioned parties
Catches: sanctioned businesses and people, including under their aliases.
The business and its trade name, each owner (by name and year of birth) and the business address are screened against the US Treasury's OFAC sanctions lists. The lists are refreshed daily, and applications still being decided are screened again whenever they change. A US business may not extend credit to a sanctioned party.
Applications to other companies
Catches: bust-out schemes and credit flooding, where a business opens as many accounts as it can, orders heavily and disappears.
Vetted Credit matches each applicant by FEIN, business name, email, phone and owners across every NACM member using Vetted Credit, within 30 days either side. Several matches is a warning; more is an alert. When a new application arrives, members who saw the same applicant earlier are warned too.
Contact details shared with other businesses
Catches: fraud rings running several shell companies from one phone, inbox or computer.
An email address, phone number, IP address, FEIN or owner already used by a different business.
Owners' identity
Catches: stolen and synthetic identities behind a personal guaranty.
SSNs that break Social Security numbering rules, owners too young to sign, and the same SSN appearing elsewhere with a different name or date of birth.
FEIN
Catches: made-up federal tax ID numbers.
FEINs with prefixes the IRS has never issued, and obviously invented numbers.
Age of the website's domain
Catches: impersonation of established companies with look-alike websites.
Looks up when the applicant's website was registered. Under 90 days is an alert; under a year, a warning.
Contact email
Catches: applicants hiding behind disposable addresses.
Throwaway and free email addresses, and email domains that don't match the company's website.
Where the applicant applied from
Catches: overseas fraud rings posing as local businesses.
Applications from outside the countries you sell to, or through a VPN, proxy or data centre, and applications from a different state than the business address.
Trade references
Catches: friends and accomplices posing as suppliers.
References that give the applicant's own email or phone, or that answer the reference request from the applicant's own IP address.
What the web says
Catches: businesses with a trail of complaints, and ones with no real-world presence at all.
Vetted Credit searches the web for the business name, its street address, and the name alongside fraud, scam, lawsuit, complaint or bankruptcy. The top results are kept with the application for your team to open, and any that name the business next to a warning word are highlighted.
Public records searched by address, not just by name
NACM keeps bankruptcy and federal tax lien records on its own servers. That lets Vetted Credit search them the way a credit professional would: by tax ID, by owner, and by street address.
Many newer tools check public records through someone else's service, one name at a time. A name lookup can't tell you that the business now applying moved into premises where another business filed for bankruptcy last year, or left an unpaid tax lien behind. Vetted Credit can.
Bankruptcies
Catches: applicants with a history they'd rather you didn't see.
The business is matched by FEIN, or by name and state, and each owner by name and the last four digits of their SSN. Every bankruptcy on record counts, whatever its age. If the applicant says it has never filed but the records say otherwise, that's an alert.
Federal tax liens
Catches: unpaid federal taxes that will be paid before you are.
The business and each owner are matched against federal tax lien records. Open liens are a warning and count in the credit score; released liens are shown for the record.
Same address, new name
Catches: businesses that close, file and reopen under a new name at the same premises.
Bankruptcies and tax liens filed by anyone else at the applicant's street address are found and listed, however the address was typed ("Street" or "St", "Suite 4" or "#4"). An address with many unrelated filers, such as a shared office building or a registered agent, is shown as a note rather than a warning.
Every possible match is shown with how closely it matched (exact, strong or possible), so you decide whether it is really your applicant.
The network protects you without exposing you
Members learn that an applicant has applied to other companies, how many and when. They never see which companies, what those companies decided, or their customers' details.
- Owners' SSNs and dates of birth are encrypted, and matched by fingerprint, never shown to other members
- Hashed passwords, automatic sign-out after inactivity and HTTPS everywhere
- Every result recorded with the date it ran, for your files
Put your applications through the checks
See every fraud check run on a sample application, and on your own form.