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Bust-out fraud: Auto finance’s growing blind spot (Off the Lot)

Fraudsters first build trust before losses occur

Bruce Newmark

Nearly every discussion about auto finance performance eventually includes a conversation about fraud. Whether the focus is identity verification, customer legitimacy, document authentication, income validation or synthetic identities, fraud continues to be one of the industry’s most persistent and costly challenges. One branch of the fraud tree that deserves significantly more attention is bust-out fraud. […]

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