Finance Insurance

Crisis protections create auto fraud risks

Dealerships and lenders can invest in identity-verification systems to help catch fraudulent auto applications.
Dealerships and lenders can invest in identity-verification systems to help catch fraudulent auto applications.
June 06, 2020 04:00 AM

Auto fraud has increased exponentially in the wake of the coronavirus pandemic as some people attempt to take advantage of the unprecedented moment in time. Investing in identity verification technologies can reduce fraudulent auto originations during the crisis, fraud experts said, but only if dealerships and lenders are on board.

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