The New 2024 Auto Lending Fraud Trends Report is Here!
What’s Inside?
The Auto Lending Fraud Trends Report is a culmination of hundreds of hours of analysis and review by data scientists and fraud analysts at Point Predictive. It provides insight into how auto lending fraud has been trending over the last year.
Point Predictive’s proprietary data repository has grown to more than 28 billion risk attributes spanning in excess of $3 trillion in scored applications. It has become a rich resource for understanding the dynamics of all fraud and risk in the industry.
This year's report highlights
- An estimated fraud loss exposure of over $7.9 Billion to the industry.
- A 98% growth in synthetic identity attempts as auto lending becomes a prime target.
- A 30% increase in credit washing, driven by an increase in illicit credit repair activity.
- A 27% increase in bust-out reports as the economy tightens.
- The threat of rising fraud and defaults due to increasing affordability risk.
- The growing threat of Fraud as A Service as social media method sharing increases online.