Experian Automotive: Fraud is Top-of-Mind for Nearly Nine-in-10 Automotive Dealers
EXPERIAN PLC S/ADR (EXPGY)
NASDAQ:AMEX Investor Relations:
experianplc.com/investors
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Source: Business Wire
New survey highlights the growing risks that fraudulent transactions can reap on dealerships, impacting profitability and the overall customer experience LAS VEGAS--(BUSINESS WIRE)--With fraud continuing to emerge as a growing operational challenge for the automotive industry, new research from Experian, a global data and technology leader, reveals how significant fraud is becoming. Based on a survey of automotive dealers, nearly nine-in-10 are concerned about fraud. The findings also show 70% of dealers believe fraudulent transactions are on the rise, signaling upward momentum.A closer look at the study highlights the financial influence fraudulent transactions can have on a dealership’s bottom line. On average, over the last 12 months, dealers reported approximately four fraudulent deals were completed prior to detection. Additionally, 45% report that a single fraudulent transaction typically results in an estimated financial loss of $10,000 to $20,000, while 31% indicate their l
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