To raise industry awareness, Informed’s Fraud Watch will periodically share analyses of fraud rings uncovered by our research teams. This issue digs deep into an auto loan fraud ring located in South Florida. The Auto Loan Fraud Ring In late 2023, a fraud ring went after auto dealers operating out of the cities of Doral,
When it comes to fighting document fraud, lenders should have “Great Expectations.” We are not talking about Charles Dickens’ 19th century novel. Rather, we are referring to the ability to quickly distinguish between legitimate and illegitimate income documents using a concept we call “Expectation Definitions.” What is an Expectation Definition? An “Expectation definition” means the
Great Expectations: How Expectation Definitions Strengthen Document Fraud Detection Read More »
Welcome to the latest edition of Informed’s Fraud Watch: Informed’s blog on the latest fraud trends. Generative AI is changing how lenders’ screen for fraud. Document fakes are rapidly getting so good that they will pass even the most careful visual inspection. To identify fraud, lenders now need to go beyond the four corners of a
Welcome to Informed’s Fraud Watch: Informed’s blog on the latest fraud trends. As lenders contend with evolving risks in income document fraud, one emerging fraudster technique deserves more attention–“transaction recycling.” “Transaction recycling” describes fraudster re-use of the real-world identifiers associated with ACH, check, debit, and vendor transactions in bank statements or other income documents. A
Transaction Recycling is Becoming a Massive Document Fraud Problem Read More »
