Automotive finance fraud surges

Automotive finance fraud has surged in the first half of 2010, overtaking even mortgage fraud to reach its highest level  since 2006.

New figures show that automotive fraud rose by 35 per cent, with 34 in every 10,000 applications for vehicle finance detected as being potentially criminal, between January and June. The majority of these were recorded in the second quarter of the year, when 47 in every 10,000 applications were fraudulent.

Mike Reed Marketing Director at WM Investigation says, “Our expert professional trace and recovery services are perfectly positioned to resolve the increasing business requirement to resolve these fraudulent activities”.

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