Experian Unveils New Tool to Help Automotive Dealers Mitigate Fraud Losses
EXPERIAN PLC S/ADR (EXPGY)
NASDAQ:AMEX Investor Relations:
experianplc.com/investors
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Source: Business Wire
Fraud Protect™ enables automotive dealers to identify potential fraud risks without slowing down the sales process SCHAUMBURG, Ill.--(BUSINESS WIRE)--With more of the vehicle buying journey shifting online and vehicle prices remaining at elevated levels, fraudsters are targeting the automotive industry at an increasing rate. To address the rising threat, Experian® today announced the launch of Fraud Protect™, a web-based application that helps automotive dealers detect and prevent fraud while maintaining a positive shopping experience for the consumer.According to a recent Experian report, nearly 70% of businesses reported that fraud losses have increased in recent years. Among the most common fraud schemes that dealerships experience include:Third-party fraud: Fraudsters steal an individual’s identity to purchase a vehicleFirst-party fraud: A person knowingly misrepresents their identity or provides false information, often with the intention of not paying for the vehicleSynthetic
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