William Dooley

Senior Associate Solicitor

DATE PUBLISHED: 11 Feb 2021 LAST UPDATED: 30 Jun 2022

CIFAS Markers – What are your options?

CIFAS Markers

CIFAS markers can be registered by financial institutions against individuals and could result in varying difficulty accessing credit, be it very minor or completely destroying a credit rating for up to 6 years. The consequences of CIFAS markers can therefore be devastating, particularly when an individual is innocent of any wrong-doing.

In cases where a customer is innocent, they may struggle to understand or find out the reason behind a CIFAS marker being registered against them. This is because financial institutions themselves are very reluctant to disclose these reasons, and CIFAS may need to be approached to obtain further information.

What is CIFAS?

Credit Industry Fraud Avoidance System, or “CIFAS” for short, is an organisation that offers fraud prevention services for the financial services industry, including the management of a database which documents suspected fraudulent conduct in the UK. Various organisations contribute and share their data with the aim of reducing fraud and crime. Most financial institutions are members of CIFAS and use CIFAS to consider the risks associated with potential customers.

Having a CIFAS marker means an application for credit by either an individual or company is likely to be subjected to further checks, and may well make obtaining credit more difficult. These measures can have a serious impact on a range of things, including; mortgage applications, existing banking facilities and arrangements, business finance, personal loans, overdrafts and credit card applications.

Can CIFAS Markers be moved?

A CIFAS marker can be challenged and removed, although the process can be difficult and long-winded, should an institution that applied for the CIFAS marker refuse to remove it, then there is an adjudication process. Redress can also be sought through the Financial Ombudsman Service.

CIFAS Markers – how can Ellis Jones help?

Ellis Jones’ Banking & Finance Litigation solicitors have specialist knowledge and expertise across a broad range of areas including CIFAS Markers and how to remove them. We act for a variety of commercial clients in disputes with financial institutions and have recovered in excess of £60 million on their behalves.

If you feel you may have a valid challenge to a CIFAS marker please contact either William Dooley or William Fox Bregman in our Banking and Financial Litigation team by calling 01202 525333. Alternatively, please email us at banking@ellisjones.co.uk.

We offer proportionate and transparent fee structures to help with your claim, and can progress a FOS complaint or court claim against your insurer on a ‘no-win, no-fee’ basis, subject to the merits of your dispute.

How can we help?

When you submit this form an email will be sent to the relevant department who will contact you within 48 hours. If you require urgent advice please call 01202 525333.

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