Why Join - Fraud Register

WHY JOIN?

Fraud Register a Member Database records undisclosed default history

Have you suffered a loss from a client default?

Do you or your competitors have any Fraud Register listed clients?

Wouldn’t you like to know who before they cost you?

Member Database records undisclosed default history

Fraud Register is a member-based, not-for-profit, industry association, for AFS licensees, which operates a database of clients who have defaulted with members generally through non-payment or non-delivery of securities.

The database is a useful tool to enhance a member’s awareness of a client’s defaulting history with other members. All members have the capability to add new defaulting clients and new information on defaulting clients as required.

Members can easily review the database in real time when opening a new client account or check all clients using the “batch search” facility at any time. Clients will often transact with more than one AFS licensee. A number of members may submit the same name or address to the database. Some names have been nominated more than 10 times by different members. Sometimes this happens over a very short timeframe which may indicate the possibility of a scam or possible criminal activity.

Your Onboarding Process Potential / Current Clients