Twitter Chat Results: Tips for Enacting a Fraud Detection Strategy

Consumer fraud continues to rise, particularly in densely populated cities across the West and East Coasts, which is why lenders need to establish a fraud team and invest in screening tools, according to Friday’s Powersports Finance Twitter Chat.

Experts weighed in on tips for enacting a foolproof fraud detection strategy and best practices for fraud mitigation, including how to develop a front-end review strategy to knock out fraud before it is funded, and how lenders should use those early results to notify dealers immediately.

Below are some of the best responses from the chat:

Stay tuned for our next Twitter Chat, and let us know what topics you’d like to see by Tweeting @Powersports_Fin or using #AskPSF.

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