National Automotive Finance Association’s Post

🎉 The National Automotive Finance Association is proud to offer these 2024 signature events! Registration is open now for both programs. 🚗 C-SUITE RETREAT An exclusive, limited-seat event for auto finance CEOs, Executives, and Senior staff at the charming Hyatt Regency Hill Country Resort and Spa, attendees will connect with fellow industry leaders and engage in candid conversations about the non-prime market. Only ten spots remain, so register now to secure your seat! ➡ https://lnkd.in/gyGxpi_m 📖 COMPLIANCE CHAMPIONS WORKSHOP This program offers essential insights and updates on compliance and regulatory issues in the auto finance industry and is ideal for professionals who want to stay compliant, mitigate risks, and succeed in today's highly regulated business environment.  ➡ https://lnkd.in/eVQZ3Ytf 🌐 Visit our website to learn more about the association, member benefits, education and training opportunities, and more! ➡ www.nafassociation.com

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Todd Smith

Building at the intersection of AI and Automotive

1mo

Identity fraud is a growing concern for automotive dealerships, with fraudsters exploiting vulnerabilities in their verification processes. Over 50% of dealerships still rely on photocopying driver's licenses, which is insufficient against sophisticated fraud techniques. Less than 20% use scanners, which is a step in the right direction but not a complete solution. To combat identity fraud effectively, dealerships must adopt a multi-layered approach, including: - Biometric verification - Database checks - Behavioral analysis - Staff training As remote sales rise, dealerships must stay proactive and adapt their processes to protect themselves and their customers from the damaging effects of identity fraud. Implementing a comprehensive identity verification strategy is crucial to meeting the industry's evolving challenges.

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