Nine in ten attempted motor finance
frauds were spotted in the second quarter of 2010, Finance &
Leasing Association (FLA) figures have shown.
Between April and June this year
there were 2,585 fraud-related events involving motor finance.
Of these, 2,361 suspected or
attempted fraud cases were spotted by combined efforts of the FLA,
lenders’ investigating agents and specialised police units. The
suspected figure is down from nearly 2,500 attempted or suspected
fraud cases in the second quarter of 2009.
The FLA has also been working in
partnership with the police on a Vehicle Recovery Scheme (VRS), to
help finance companies recover cars they own that have been driven
illegally by a finance customer and have ultimately been seized by
The scheme has led to £4m worth of illegal vehicles being taken
off the UK’s roads in 12 months.
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