Ms Paula Duffy:

In the identification of assets and liabilities, we use a statement of affairs, which is completed by the borrower and sworn by a peace commissioner, a commissioner for oaths or, in some cases, a solicitor. We substantiate that with information from an accountant or whatever additional information might support it. As for properties, we use external company search data, property search and the central credit register to validate the level of debt.

In summary, there is upfront disclosure from the customer and we substantiate that by using available third-party information.