Equifax Acquires Fraud Detection Company
November 3, 2009
Equifax has acquired Rapid Reporting Verification Co. (RRVC), a privately held fraud detection firm, for $72.5 million in cash.
The publicly traded Equifax said having Rapid Reporting in its stable will enhance its ability to provide lenders with "improved products, quality and services to help them better control fraud." RRVC is a specialist in IRS tax transcript information and social security number authentication services.
Based in Fort Worth, Texas, Rapid Reporting products include IncomeChek, which provides IRS verification of income tax information, and DirectChek, which provides Social Security Administration verification of social security numbers and also meets USA Patriot Act compliance requirements
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