Dealer principal fraud alert

Time 14 years ago

Directors of larger dealerships at significant risk of identity theft, warns Experian


DIRECTORS of commercial companies with more than 50 employees are almost five-and-a-half times more likely to become victims of identity fraud than the average UK resident.


Compared to the national average, directors of smaller companies are almost two-and-a-half times more likely to become identity fraud victims.

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Experian’s most insightful analysis to date into the growing number of identity fraud victims has revealed that company directors are increasingly becoming the prime targets for professional identity fraudsters.  


The analysis is based on more than 10,000 identity fraud cases reported to Experian, which has enabled the company to produce its most accurate identity fraud propensity model ever to help companies combat fraud. 


Kirk Fletcher, Managing Director of Experian’s Automotive, division, said: ‘This latest analysis continues to underline the fact that anyone is susceptible to identity fraud, with the highest earners being at particular risk. Directors at dealer groups are just as likely to be targeted as are directors of any other business.


‘The automotive industry is used to dealing in a risk environment and the majority of dealers have processes in place to check the identity of the vehicles they are trading.  


‘However, personal identity theft could start affecting automotive businesses more drastically. In addition to the personal loss suffered by the individuals, when they have to take time off work in order to deal with the issue, it also ultimately costs the business too.’

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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