Used car retailer ACF Car Finance, subsidiary
of The Funding Corporation, prevented nearly 500 cases of suspected
fraud in its showrooms last year, saving the company an estimated
£3.2m.
Suspected frauds were detected through a
combination of dealership staff trained by ACF’s anti-fraud unit
and the use of airport-style document scanners to spot false
passports and driving licences provided to verify customer
identification.
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The subprime specialist claims to be the first
in the UK to use such scanners, supplied by document verification
and security provider Au10Tix and similar to those in use by EU and
US border control.
According to ACF, the scanners remove the risk
of human error, allow showroom dealers more time with customers and
reduce document authentication time by recording data
electronically.
From there, the company is able to contact
those who may have had their details misused and/or aid the police
in identifying further crime such as benefit fraud or money
laundering.
richard.brown@vrlfinancialnews.com
