Learn how to safeguard your dealership from identity fraud
Are you part of the 79% of dealers that experience identity fraud related to vehicle loss? 95% of those dealers say the increase in fraud is directly related to the increase in the digitization of the deal and remote buying experiences, with 86% saying that as more of the transaction moves online, identity fraud will increase and become harder to prevent.
Auto retailers pioneered touch-free purchases, streamlining car shopping. These innovations birthed a haven for fraudsters wielding sophisticated identity scams. A staggering $8 billion hemorrhage plagues the automotive industry. Fraudsters, masterminds of deceit, exploit virtual and in-store channels with synthetic personas and credit profiles. We’ve invited Jim Lawyer with 700Credit to share the harrowing tale of one dealer’s 5-car loss to identity thieves and how they were left abandoned by their insurance company. In this session, Jim will demonstrate the tactics of prevention through cutting-edge tech, synthetic fraud detection, and data scrutiny. Shield yourself from the looming specter of identity fraud, a must-attend session!
Learning Objective 1: Identify the various forms of identity fraud prevalent in automotive sales, including synthetic personas and credit profile manipulation, as highlighted in the session’s exploration of a dealer’s 5-car loss to identity thieves.
Learning Objective 2: Evaluate the financial impact of identity fraud on automotive dealerships, understanding the $8B in losses the industry and the subsequent challenges faced by businesses, including abandonment by insurance companies.
Learning Objective 3: Identify and implement effective prevention strategies against identity fraud in automotive retail, leveraging cutting-edge technology, synthetic fraud detection, data scrutiny, and compliance with FTC safeguard rules for the proper handling of consumers’ non-public information to safeguard dealership operations and protect the bottom line.
Autosoft, Our innovative Dealer Management System (DMS) technology empowers automotive dealers to operate from anywhere and access all the data they need – all in one place. Unifying sales, service, parts, accounting, inventory management and more, Autosoft provides dealerships with the data and workflows they need to make informed decisions, maximize ROI and gain customer loyalty. Autosoft serves over 2,000 dealerships and maintains 35+ OEM certifications.
Autosoft, Our innovative Dealer Management System (DMS) technology empowers automotive dealers to operate from anywhere and access all the data they need – all in one place. Unifying sales, service, parts, accounting, inventory management and more, Autosoft provides dealerships with the data and workflows they need to make informed decisions, maximize ROI and gain customer loyalty. Autosoft serves over 2,000 dealerships and maintains 35+ OEM certifications.
