A credit report can be used to :
- Evaluate a customer’s application for credit or other customer-initiated business transaction
- Recover any sum due to an institution
- For customer account management, fraud detection and prevention, credit rating, employment evaluation, tracing owners of unclaimed assets, development of a scoring system, assessment of a debtor’s books of business
- Assessment of credit facility
- Underwriting insurance Determination of the customer’s eligibility for a license or benefit granted by the Government
- Assessment of the credit or prepayment risks associated with an existing credit obligation Need for information, in connection with business transaction initiated by the customer or other lawful transaction or matter concerning the customer
- For other purposes that may be approved by the Central Bank.