This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties.  Members and Law enforcement use only. Contact us for any permissions.  To do otherwise will result in the loss of membership.

Complete Story


Synthetic ID Fraud Rises 98% in Auto Lending Industry

Bank Info Security

Synthetic identity fraudsters target the auto lending industry the most, leading to a 98% increase in attempts and a staggering $7.9 billion in losses for the industry in 2023. Point Predictive's study of 180 million loan applications found that income and employment misrepresentation, synthetic identities, and credit washing account for nearly 75% of the risks faced by auto lenders.

Typically associated with first-party fraud, these misrepresentations involve borrowers committing fraud rather than third-party scammers. While identity theft accounted for 14% of all risk in 2023, it represented only a fraction of the overall challenges hitting auto industry lenders, according to the report.


Printer-Friendly Version



The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.

more information


Your electronic library to help in fighting financial fraud for all of our partners.

more information