Credit Card fraud has become one of the largest financial problems plaguing today’s lending industry. As credit card providers market their products and services to more consumers, incidents of fraud have risen accordingly. A 2005 FBI report showed that credit card fraud represented the majority of the total $315 billion financial fraud loss for that year in the US. Although those numbers have continued to go up as criminals have developed more sophisticated schemes, Veri-tax's fast, secure and easy-to-use IRS Form 4506-T processing service now gives credit card providers the tool they need to significantly reduce losses resulting from fraud – the Veri-tax.

While cases of credit card fraud due to identity theft are well publicized, quality control and fraud prevention professionals know that a significant portion of fraud losses result from the increasing of current customers’ limits and from credit approval of large limit clients who have no intention of repaying their debt. When you order a Veri-tax via our 4506-T processing, you are getting the most effective and efficient way to verify your customer’s income. With industry leading 4506-T processing turnaround times (usually 1 day), our Veri-tax provides you with the credit applicant’s official IRS income information before the completion of your credit approval process.

A Veri-tax is a useful tool for credit providers in other ways as well. Many credit providers use the Veri-tax to expedite the approval process for customers who meet credit increase income requirements. Also, QC personnel can initiate processing of 4506-T to acquire Veri-tax’s on customer accounts that have been “Red Flagged” as having suspicious activity.

If you want a fast and efficient way to verify credit applicant income information, order your Veri-tax today.