The Northeast Regional Chapter of the International Association of Auto Theft Investigators (IAATI) recently held a webinar that WANADA dealer were invited to join. The webinar featured Frank McKenna of Point Predictive. Frank McKenna is the Chief Fraud Strategist of Point Predictive and the author of FrankonFraud, a blog covering global fraud trends. He has worked with over 250 banks and lenders in the US, helping them integrate AI solutions to combat fraud and risk.
All who attended submitted very positive feedback on Mr. McKenna’s presentation, which covered fraud patterns and trends uncovered in the auto lending fraud consortium – a vast database containing over 130 million auto finance applications from across the country. The analysis reveals that the industry can expect over $8 billion in auto fraud risk this year, including schemes to defraud lenders and dealers through income fabrication, use of fake employers, synthetic identities, straw borrowers, ghost loans, powerbooking, and insider fraud.
Whether you were able to attend the webinar or not, you may find the slides useful. IAATI has graciously provided them for download, which you can find here.Download Bulletin PDF