CIFAS Renews Hosting Contract with Logica
CIFAS, a UK fraud prevention service, has signed a £4.9m contract with Logica, a business and technology service company, to support and host its core system for a further 10 years. CIFAS helps to identify financial and related crime in the UK. It’s a not-for-profit membership association representing some 260 private and public sector organisations and operates two Logica-driven databases, the UK’s National Fraud Database (NFD) and the Staff Fraud Database (SFD).
Logica first started working with CIFAS in 2002 when it built a data repository with web access to share details of confirmed frauds committed against its members. In the nine months to September this year, Logica’s system helped to identify almost 175,000 cases of fraud. During the past five years CIFAS members have reported fraud savings of over £4.1bn through the NFD. The systems have been transformed so members can now pinpoint fraud committed by their own employees using the SFD and link the core systems to their own internal systems using a suite of automated interfaces.
Nick Locke, Logica’s customer service manager for CIFAS, said: “We renewed our contract when the first five-year contract ended, and we have now done that for a second time. It is now for a 10-year period, twice as long as before, which shows the level of trust and commitment that exists between Logica and CIFAS.”