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Landmark Point Predictive Fraud Study Details Record Year for Auto Loan Fraud in 2020


Press release content from Business Wire. The AP news staff was not involved in its creation.
Landmark Point Predictive Fraud Study Details Record Year for Auto Loan Fraud in 2020
April 15, 2021 GMT
US Auto Loan Fraud Reaches $7.3 Billion in 2020 (Graphic: Business Wire)
SAN DIEGO (BUSINESS WIRE) Apr 15, 2021
Point Predictive Inc., the San Diego-based artificial intelligence and data science company that helps lenders predict the trustworthiness of loan application information, published research detailing increased levels of attempted loan fraud in 2020, which the company believes could continue through 2021.
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US Auto Loan Fraud Reaches $7.3 Billion in 2020 (Graphic: Business Wire)
The company’s Auto Fraud Report is the auto finance industry’s most comprehensive annual assessment of application fraud risk. The 2020 edition includes unique insights about income and employment misrepresentation, identity fraud, and collateral fraud ....

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Westlake Financial Identifies Significant Portion of All Income Misrepresentation with IncomePass™ by Point Predictive


Press release content from Business Wire. The AP news staff was not involved in its creation.
Westlake Financial Identifies Significant Portion of All Income Misrepresentation with IncomePass™ by Point Predictive
February 9, 2021 GMT
SAN DIEGO (BUSINESS WIRE) Feb 9, 2021
Point Predictive, the AI company that increases trust in lending, announced today that Westlake Financial, one of the nation’s largest auto lenders, adopted IncomePass™ to create a more streamlined lending experience for its dealers and borrowers that substantially reduces fraud and early payment default exposure. IncomePass identifies income misrepresentation on loan applications using advanced data science, allowing lenders to save review resources by focusing extra diligence on riskier auto loan applications. ....

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