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22:22 on Sunday
16 October 2005

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Fraud management company chooses city


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VFM Services (Volume Fraud Management), which provides fraud prevention services for insurance and finance companies, has relocated the majority of its workforce to Peterborough following a period of growth and expansion.

VFM Services was established in 2000 by managing director Bill Jackson who, while working at Peterborough-based travel giant Thomas Cook, developed a new process for dealing with claims for lost or stolen travellers cheques. The process was created to help telephone operators discourage people from making inappropriate or false claims.

Following the success of the process, VFM was created to provide similar services and training for insurance and finance companies. As well as providing a call-handling service for companies it offers in-house training to teach staff new techniques to prevent fraudulent claims.

VFM has been extremely successful since it was established, said Bill Jackson. The company continues to grow and relocating the majority of our 75-strong workforce to Peterborough opens up further opportunities for expansion.

A number of large, established companies within our target industries are based in Peterborough and the city was an ideal location to relocate the company. Peterborough also has a highly-skilled work force which is essential for the company.

Recently, VFM has secured major contracts from Legal & General and AXA. As well as working within finance and insurance the company hopes to expand into new areas such as benefit fraud and accident investigation.

April 2005

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