AI Hype, Fraud Reality, and the Fixes That Actually Work
A Fireside Chat with GDS Link and Point Predictive Fraud is evolving,and fast. Fueled by accessible AI tools, fraud rings are scaling synthetic identities, manipulating income documentation, and washing credit reports with alarming ease. At the same time, lenders are under pressure to detect and prevent these threats without slowing down approvals for legitimate borrowers. […]
Bust Out Fraud: Miami’s Multi-Million Dollar Auto Fraud
If you’re lending in Florida, you’ve probably been hit by the South Beach Bust Out Syndicate Bust out fraud is a sophisticated scheme where criminals obtain loans with no intention of repaying them, often using straw purchasers to acquire cars that quickly disappear. Point Predictive fraud analysts are alerting auto lenders to a large operation […]
Fraud Fighters Recognize Memphis as the City with the Biggest Surge in Synthetic Identity Fraud
We recently conducted a LinkedIn poll to see how well our community of fraud fighters could identify the city with the biggest growth in synthetic identity fraud rates from 2022 to 2023. The options were Detroit, Las Vegas, and Memphis. Here’s how the 39 participants voted: The majority of our knowledgeable audience got it right! […]
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 […]
Q&A with Point Predictive Advisory Board Member Lauren Crossett
In June, Point Predictive announced that fintech veteran Lauren Crossett would be joining the firm’s advisory board. A few months later, we caught up with her to talk about her view of the industry and to see what insights she has to offer about the company. Point Predictive: You’re a relative newcomer to Point Predictive, […]
‘To The Point’ Bonus Episode: Insights into the Criminal Fraud Ecosystem
In this bonus episode recorded at the Point Predictive 2023 Auto Lending Fraud Roundtable, Dr. David Maimon, professor at Georgia State University, examines the intricate supply chain of producers, distributors, and diverse customers engaging in various fraudulent activities. Dr. Maimon advocates for incorporating these insights into the criminal ecosystem in order to develop effective prevention […]
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’ Bonus Episode: Dispatches from the Front Lines of Auto Fraud
In this bonus episode recorded at the Point Predictive 2023 Auto Lending Fraud Roundtable, Sgt. Darren Schlosser of the Houston Police Department Auto Theft Division and Sgt. Dave Navarro of the Orange County Auto Theft Task Force present their findings from the front lines of fraud. This was one of the most highly anticipated sessions […]
Q&A with Point Predictive Advisory Board Member Barry Kirby
Since joining the Advisory Board this summer, Barry Kirby, the subject matter expert on credit unions has been weighing in on how credit unions can benefit from Point Predictive technology. We sat down with him to discuss the state of the industry and where credit unions have an advantage in consumer lending. Point Predictive (PP): […]
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 […]
