Professionals should attend this session to protect their collateral and investment. Dunham Biles will explore how easy it is for dealers to defraud lenders, and how to mitigate the risk and solutions that eliminate certain risks. Attendees will hear real-life stories on lenders being defrauded and how the fraudulent transactions could have been prevented via short-term solutions. Dunham will propose a long-term, efficient solution that involves the coordination between all finance lenders, including floor plan lenders, consumer lenders and commercial lenders.
Takeaways:- Provide real-life examples of dealer fraud and finance lenders
- The short-term solutions to mitigate the risk of a fraudulent transfer
- A long-term and efficient solution that combines lender coordination and new technologies to prevent the dealer fraud while reducing the time from the point of sale to the dealer receiving funding
