How to Think About First-Party Fraud

First-party fraud may feature multiple forms of deception which vary in sophistication, but it often begins with a basic premise – with applicants who simply present themselves as the borrower. They use their own identity, or parts of their identity, with the intent to defraud for financial gain. In some cases, a first-party fraudster will use bits of information identifying their next of kin when applying for credit.

Also known

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How to Combat Online Lending Fraud

They say that the eyes are the windows to the soul. But when you’re conducting business online, the eyes and every other fragment of identity is concealed. The “hidden” nature of the online environment makes it a breeding ground for fraud.

Fraud in all its forms is so pervasive in the subprime lending industry that lenders are tasked with trying to verify each applicant’s identity, their credit history, their ability

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