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PlunkettPlunkett 

Lead Duplication Flag

Hi,
 
Does anyone know if it is possible to create a formula field that checks a box on a new lead record if the email address already exists in the system?
 
We are using a Java web form to create leads in Salesforce and it would be a quick way of assertaing if the new lead is duplicated somewhere else (Leads Contacts etc)
 
Thanks in advance
 
Ben