Credit unions losses tied to auto fraud reach $1.2B
Credit unions’ loan fraud SARs rose 466% in decade
Falsified income, employment and identities have caused credit unions to lose millions to fraud in the past three years. Credit unions have lost an estimated $1.2 billion tied to auto lending fraud since 2022, according to Point Predictive. They are also seeing higher rates of fraud compared to other lenders, according to Financial Crimes Enforcement […]
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