Callcredit Information Group is working with commercial and family law solicitors Larcomes LLP to help reduce the risks associated with cybercrime.

The solicitors, with offices in Portsmouth and Waterlooville, will use Callcredit’s online ID verification and anti-money laundering service CallML to help protect the business from money laundering by verifying the identity of new customers.  CallML will enable Larcomes to screen customers in a quick, simple and ethical way helping to ensure the company is dealing with genuine customers.

Internet security provider McAfee estimates that cybercrime costs the global economy more than £200 billion annually and the National Fraud Intelligence Bureau (NFIB) estimates that criminal activity on the internet costs the UK alone more than £670 million. This highlights the need for businesses to ensure they know who they are dealing with as outlined in the enhanced customer due diligence requirements detailed in the Joint Money Laundering Steering Group (JMLSG) guidelines.

Janice Ward, Practice Director, Larcomes LLP said: “With the complexities and intelligence of cybercrime and the ever evolving compliance advice issued by the SRA, it is important for us to continue to monitor and improve our risk management and money laundering procedures to ensure that we do all we can to guard against the increased risk. We were very impressed with the Callcredit software and the ease that this could be integrated within our legal platform.”

Peter Mansfield, Managing Director, Callcredit Ltd said: “It is important that businesses protect themselves from the different ways in which criminals undertake criminal activity, whilst at the same time adhering to regulation.  This is particularly important when dealing with online transactions, which can present increased risk. CallML can be used in both situations, via online transactions and face-to-face, providing Larcomes peace of mind when verifying the identities of potential new customers.”