News
Auto finance fraud exposure drops to $7.9 billion in 2023 |
Synthetic identity fraud contributed to an estimated $7.9 billion in fraud exposure across the auto finance sector in 2023, fueled by affordability concerns as fraudsters employed false income statements, job falsification and credit laundering to hide negative credit histories. Auto lenders’ estimated total loss exposure due to fraud nominally fell from $8.1 billion in 2022 due […]