How High Interest Rates Propel Borrower Fraud in Auto Financing
As interest rates climb and credit tightens, prospective auto loan borrowers are increasingly resorting to fraudulent tactics to secure loans. This alarming trend not only poses significant risks to lenders but also casts a shadow over the entire auto industry. According to recent findings from autoremarketing.com, the Cox Automotive Dealertrack Auto Credit Availability Index has signaled […]
Frank on Fraud: How Credential Stuffing Attacks Target Carmakers
Frank McKenna, Point Predictive’s Chief Fraud Strategist and resident expert on fraud prediction, recently wrote about the risks of credential stuffing in the automotive industry on his personal blog Frank on Fraud. A recent credential stuffing operation may have affected more than 10,000 accounts at major automakers, Frank writes. Credential stuffing cyberattacks involve obtaining usernames […]
To The Point Podcast Episode 7: How Fraud Prevention Hinges on Technology, with Mike Periera
On this week’s episode Mike Periera, Vice President of Lending Operations at MidAtlantic Finance Company, discusses how his organization has structured their fraud prevention strategy around technology and how Point Predictive products in particular have been paramount to their success. The conversation also touches on how AI is shaping the future of fraud and how […]
To The Point Podcast Episode 6: The State of the Fraud Prevention Field with Matt Beardsley
On this week’s episode, Matt Beardsley of PenFed Credit Union explains how first-party loan fraud is an understated and too often overlooked financial crime. He discusses the evolving tactics fraudsters are using to deceive credit unions and other lenders, and the steps organizations like his are taking to stay vigilant. Beardsley, a self-described “financial crimes […]
To The Point Podcast Episode 5: Why Fraudsters are Becoming More Aggressive
A Point Predictive Podcast with Sgt. David Navarro Sgt. Dave Navarro of the California Highway Patrol discusses the wide variety of fraud affecting auto dealers in California, both before and after purchase. He explains how fraudsters’ brazen and constantly evolving tactics can present a challenge for law enforcement, and how his agency is working to […]
Point Predictive Releases Episode 2 of Podcast Series “To the Point”
Episode Two, Identity Theft and Vehicle Fraud Tactics with Sgt Darren Schlosser In episode two of Point Predictive’s exclusive “To The Point” Podcast series, recorded at the 2023 Point Predictive Auto Lending Roundtable, Sargeant Darren Schlosser from the Houston Police Department discusses different aspects of vehicle fraud methods and identity fraud with our host for […]
How We Help Auto Lenders Comply with Dealer Monitoring Regulations
I read an interesting article from Christine Pratt at AITE which was very interesting. You can read the article here – Are Indirect Auto Lenders the Real Target of the FDIC’s New Third-Party Guidance? Something which we have known for years and now happening, is more regulation for Indirect Auto Lenders and the dealers that they […]
Estimating Auto Fraud Lending Losses in the United States
Auto Lending fraud and risk losses are on the rise in the US. The numbers are out and they are not good. Last quarter uncollectible auto loans soared to over $1.1 Billion dollars and delinquencies on subprime loans hit their highest level since the worst recession in US history. More concerning is that the […]
