Fraudulent activity — identity theft — is on the “upswing” in powersports, with fraud rings becoming more prevalent in the past few months, said Tom Collins, executive vice president and managing director at FreedomRoad Financial.
Either more accounts are fraudulent, or FreedomRoad is catching it more often on the frontend, he said, “but it seems that the fraudsters are certainly becoming more creative in getting this criminal activity completed.”
The best safeguard against this fraudulent activity is two-fold: conversing with lender competitors and ramping up dealer training and support.
