Understanding the Many Faces of First-Party Fraud
The world of lending is riddled with various forms of fraud, posing significant risks to lenders and distorting the financial ecosystem. Among these is first-party fraud, often referred to as “Fraud for Car” in the auto world. This category of fraud involves borrowers who misrepresent information to gain loan approval. The implications of such actions, […]
‘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 […]
‘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 […]
How to Spot 5 Red Flags That Appear on Most Synthetic Identities
Synthetic identity fraud involves creating legitimate-looking credit profiles tied to nonexistent individuals. Here’s what to look for: How does synthetic identity fraud work? There are a few different ways bad actors use synthetic identities to commit fraud, but they all generally rely on creating wholly or partially spurious credit profiles that can trick potential lenders […]
5 Ways Fraud is Contributing to Historically High FICO Scores
This week, FICO announced that the national average credit score has hit an all-time high of 706 – significantly above the average credit score of 686 during the Great Recession of 2009. While an improving economy, lower unemployment, and statewide initiatives that removed some black marks from consumer’s credit histories have played a major part […]
