vehicle remarketing services

PHANTOM AUTO LOANS HAUNTING YOU? MIGHT BE YOUR SOFTWARE

The defi Team defi INSIGHT, Fraud

Phantom auto loans are a sophisticated scheme to defraud banks, credit unions, and fincos. No car is ever sold. Often, no actual dealership is involved. Fraudsters have cooperated to fabricate seemingly legitimate auto loans that have already robbed lenders of many millions of dollars.

loan servicing software community bank small business

LOAN DOWN PAYMENT FRAUD DETECTION

The defi Team defi INSIGHT, Fraud

Down Payment Fraud Detection Key Points:

1) Loan fraud is on the rise with false identities as a leading scheme
2) Substantial down payments help disguise a fraudulent loan application
3) Lenders need to employ fraud analytics to identify and decline fraudulent loan applications