FARMINGTON HILLS, Mich., June 1, 2021 /PRNewswire-PRWeb/ -- 700 Credit, LLC, the automotive industry's leading provider of credit reports, compliance solutions and soft-pull products and services, is pleased to be hosting a critical industry event shining a spotlight on a costly topic: Synthetic Identity Fraud. One of the fastest-growing types of fraud, synthetic identity fraud was reported to cost businesses $1.3 billion in 2020 and is projected to grow to $1.8 billion in 2021. Automotive dealers and lenders have been hit particularly hard, accounting for $453 million in losses reported last year and is expected to continue to grow in the foreseeable future. To make matters worse, the COVID pandemic has exponentially accelerated the pace over the past year.
"Our goal with this free webinar is to inform, educate and equip our automotive, power sports, RV and marine dealer communities with information about this alarming and costly fraud that is now occurring in our industry, and discuss tools and techniques to keep their dealerships – and their customers – safe," said Ken Hill, Managing Director of 700Credit. "This is a global issue where no one is immune, which is why we asked our partner experts from Equifax, Experian and TransUnion to bring this important message to the market. The credit bureaus have each been working diligently to study the issues and bring solutions to market that help dealers detect and protect their business and customers to minimize loss."
There are 2 dates for the event: June 15th @11:00 am EDT and June 17th @ 1:00 pm EDT.
For more information or to REGISTER today, CLICK HERE.
About 700Credit
700Credit is the automotive industry's leading provider of credit reports, compliance products and prescreen credit services. The company's offerings include dealer-facing prescreen and consumer-facing pre-qualification platforms, credit reports, OFAC compliance, ID Verification solutions, Synthetic Fraud detection, MLA, score disclosure notices, adverse action notices and more. 700Credit provides its clients with the highest quality data in a fully compliant framework in the most efficient manner. For more information, visit http://www.700credit.com.
Media Contact
Susan Burke, 700 Credit, LLC, (616) 240-9853, [email protected]
SOURCE 700 Credit, LLC
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