Auto loan application fraud tied to fake employers surpasses $1B

Fraud has been linked to more than 5,000 false employers

© Can Stock Photo / alphaspirit

Fraudsters are increasingly utilizing fake employers to generate forged paystubs, falsify income and create synthetic identities to secure auto loans as fraud in the sector continues to ramp up. Auto loan application fraud linked to fake employers surpassed the $1 billion mark as of December 2021, according to data from Point Predictive, an artificial intelligence-powered […]

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