What Fintech Can Learn From Auto Fraud w/ Frank McKenna

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In his third appearance on Fraudology, Frank McKenna, the author behind the popular blog "Frank on Fraud" & co-founder of Point Predictive shares the recent statistics shared in Point Predictive's 2022 Auto Fraud Survey, and why auto lending fraud is up 260% since last year!

How are people stealing over $7.7 Billion in cars in the US using the auto loan process?

What lessons can other fintech companies learn from this report, and the fraud issues plaguing the auto lending industry?

Why does Frank believe that the outrageous amounts of money stolen in Covid stimulus payments (PPP, unemployment fraud, EIDL, etc.) is partially to blame for the lending industry's recent increase in fraud?

All of these questions and several other topics are covered in this enlightening conversation. Even if your company is not in the auto lending business, there are several lessons to glean. Plus, Frank shared a few "fun" fraud anecdotes that we all can enjoy.

Frank McKenna can be found here: https://www.linkedin.com/in/frankmckenna/ and here: https://frankonfraud.com/

The auto fraud report can be found here: https://pointpredictive.com/auto-fraud-trends-report/

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

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She brings her experience, expertise, and extensive network of experts to this podcast weekly, on Tuesdays.