US SET TO SEE RECORD NUMBER OF FRAUDULENT AUTO LOAN OR LEASE REPORTS IN 2025 — HOW TO PROTECT YOURSELF
https://media.zenfs.com/en/moneywise_327/faec21cd15017ffb50728ceda82bab8f
✍️ Steve Simon's identity was stolen while trying to buy a car, and he received repeated notices of hard inquiries on his credit report, leading to a nightmare of auto loan fraud.
👉 Auto loan fraud is more common than you'd think 👉 60,189 claims filed in 2024, a 16% increase from the prior year 👉 21,446 reports of auto lease or loan identity theft in the first quarter of 2025 alone, up 71% from the same time last year 👉 Synthetic identities, which combine a real person's information with false information, are a growing problem due to generative AI 👉 The kind of identity theft that Simon experienced can have damaging effects on a victim's credit score, ability to borrow, and financial well-being
-- #SteveSimon #JeffBezos #Michelle #LucasGutterman #RobertKiyosaki #DaveRamsey #business
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