Last year set record levels for fraud losses in the auto finance industry: a total of $7.3 billion, according to the Point Predictive 2020 Annual Auto Loan Fraud report. A panel of experts will discuss strategies for identifying, understanding and preventing fraud during a panel at the Auto Finance Risk Summit, which returns as a virtual experience May 11-12.
The COVID-19 shutdowns, rising unemployment and an increase in digital activity have enabled fraudsters to get away with falsified information, as well as both identity and synthetic fraud. Panelists will provide insight into understanding and preventing the growth of credit washing and synthetic fraud in a cost-effective manner.
The panelists, who bring decades of experience working with fraud in the auto industry, include Matt Beardsley, manager of consumer underwriting, high-risk at Pentagon Federal Credit Union; Scott Ellefson, fraud specialist at VW Credit Inc.; and Sgt. Darren Schlosser, of the Houston Police Department’s Auto Theft Division.
Find the full Auto Finance Risk Summit agenda here.
Register for the Auto Finance Risk Summit to learn how to navigate new and existing risks facing the industry.