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Level Predictive, CreditMiner tech helps sellers fight fraud

Frank McKenna, Level Predictive chief fraud strategist, on Sept. 6 instructed Automotive Information almost each dealership his firm has talked to is reporting extra fraud.

“They’re telling us that their fraud charges have elevated fairly considerably,” he mentioned.

Retailers who’ve by no means seen fraud earlier than are reporting a number of circumstances — and people incidents primarily finish with oblique lenders forcing dealerships to repurchase the loans, he mentioned. Shopping for again a mortgage can set the dealership again tens of hundreds of {dollars}, a loss that will require a number of automobile gross sales to cowl, he mentioned.

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