SUWANEE, Ga. & EDISON, N.J. -- PatriotDealer.com expects to run 20,000 identity checks for auto dealers monthly by late summer using StrikeForce Technologies’ VerifyID™, branded SmartID™ for the auto industry, to help fight identity theft nationwide.

The major auto manufacturers' nationwide network of dealers are at high risk of auto theft due to vehicles' high value and the lack of proactive identity verification procedures for potential buyers, said J.R. Wilson, vice president of PatriotDealer.com.

SmartID is integrated into PatriotDealer.com's overall service offering, which encompasses its PATRIOT Act/OFAC compliance service and identity fraud prevention specifically designed for automobile dealers.

"Banks are now charging fraudulent deals back to the originating dealer and, in addition to losing the money, dealers are almost helpless to recapture the car once it's stolen," said Wilson. "Thieves quickly swap out the vehicle identification number, which is the only way the police can track stolen vehicles, and sell the car on the gray market or send the vehicle overseas or straight to a chop shop."

The USA Patriot Act imposes additional compliance responsibilities on auto dealers and finance companies, requiring greater due diligence when signing customer contracts. In many instances, banks and financing companies use the law to hold dealerships accountable for identity theft losses.

Launched in June, VerifyID helps eliminate this fraud by equipping dealers to screen out identity thieves with a simple set of unique questions that only the "real" applicant can accurately answer. Pretenders simply can't bluff the answers to questions selected from more than 22 billion public records spanning 30 years.

VerifyID's series of multiple-choice questions take just a few minutes to answer, and may ask about previous addresses, credit history, and previous cars - information only the "real" user would know.

0 Comments