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fraud

Will Data Put an End to Powerbooking?

A new-to-market, data-driven solution has reignited the discussion over intentional vehicle overvaluation, a form of bank fraud that remains prevalent despite a string of dealer lawsuits and regulatory actions.

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4 F&I Scenarios That Can Lead to Bank Fraud

Expert lists four all-too-common situations in which failing to understand underwriting guidelines or falsifying required stips — by dealership or finance source personnel — can constitute not just noncompliance but outright fraud.

Zanan Launches Dealership Fraud Hotline

Compliance expert Max Zanan announced the launch of Dealership Fraud Hotline, a new service designed to help dealers combat corruption.

Brady Ware Launches New Business Model

Brady Ware Dealership Advisors has created a cross-departmental consulting group, offering dealers ‘strategic improvements’ to directly increase profits and brand value.

Former Ark. Dealership Employee Arrested on Embezzlement, Fraud Charges

Janet Christine Stair is charged with concocting a service-ticket scheme that defrauded a Hot Springs Chrysler dealership of more than $17,000 and charged its factory nearly $12,000 for phantom warranty work.

FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.

NY AG: Brooklyn Dealership Targeted Non-English Speakers

Bay Ridge Honda has agreed to pay $423,000 in restitution and penalties to settle charges of deceptive acts and practices that followed dozens of complaints from aggrieved customers, many of whom are non-English speakers.

Playing With Fire

Two attorneys issue a warning about a new sales trick circulating through the industry. Their advice: If it’s too good to be true, it probably is.

N.Y.’s Major World Charged with Predatory Sales and Finance Practices

The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.

Former Credit Union CEO Charged With Fraud

The former CEO of Valor Federal Credit Union was charged with executing a scheme to defraud the credit union of approximately $718,000 to pay for his personal credit card, college tuition, his wife's birthday party, and a golf tournament sponsorship.