Walser was right. Fraud prevention provider Point Predictive, which collects data from a consortium of lenders, flagged more than 16,600 suspicious auto loan applications industrywide in 2021 — up 260 percent from 2020. It recorded more than 18,000 potentially fraudulent applications in 2022, up more than 8 percent.
And three-fourths of auto lenders surveyed in December 2022 and January 2023 by Point Predictive thought fraud would be a larger problem in 2023 than 2022.
Income…
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