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Dealerships should take different precautions to ferret out this growing fraud threat.
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Kentucky measure follows similar Florida statute aimed at protecting consumers from unscrupulous practices.
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Borrowers seeking to buy vehicles despite affordability issues were the top culprits last year as newer methods increase.
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New application helps dealerships meet today’s standards.
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Identity fraud has increased at 84% of dealerships, with 60% losing three or more vehicles in the last year; dealers blame increasing digitization of deals.
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In the U.S., 2021 marked the end of government stimulus programs and pandemic related lockdowns. It also marked the beginning of a new era in fraud.
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Point Predictive reports lenders saw record levels of fraud in the past year. Learn how to spot the red flags of fraud to reduce its affects.
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These scams and schemes could impact any dealership’s profits and put their reputations with lenders on the line.
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With advanced analytical insights, dealers and lenders have more power to reach consumers on a personalized level while also protecting against the threat of fraud.
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