As a dealer, the risks you face from identity theft can be significant. According to the FBI, it’s one of the nation’s fastest growing crimes – and auto dealers have become prime targets. In fact, fraud cases involving auto loans and leases are reported every three minutes according to the Federal Trade Commission, 2006 ID Theft Complaint Data Report. That equates to nearly $1 billion in fraud-related losses in the automotive industry every year.
- An easy, first-step ID verification tool that satisfies certain requirements under the Red Flags Rule
- Helps protect dealerships against fraud and identity theft
- Easy-to-read explanations for any ID inconsistencies
- Delivered automatically with every credit report
- Three-digit score: the higher the score, the greater the likelihood of identity risk
- CoreLogic Credco is conveniently available as a backup to dealer sales and finance platforms
First-Step for Identity Verification
Now you can fight this growing risk with BuyerID Index, a risk-based identity verification score designed to help you prevent identity theft before it happens.
BuyerID Index provides a first step in our complete ID verification process. Automatically delivered along with your client’s credit report, it provides a three-digit numeric score (ranging from 000 to 999) that indicates the level of risk associated with that client – the higher the score, the greater the probability of identity risk.
Fast Delivery. Easy to Read
BuyerID Index helps you quickly confirm a client’s identity by verifying their Social Security Number, address and telephone number. Generated in seconds, it provides an ID verification score along with easy-to-read explanations for any ID inconsistencies. Discrepancies are displayed in a logical, simplified layout for easy interpretation.
Red Flags Rule
Proposed by federal banking agencies and the Federal Trade Commission, the Red Flags Rule requires you to implement an identity theft prevention program. CoreLogic Credco provides a comprehensive Red Flag Solution that includes BuyerID Index, OFAC Screening and credit reporting services to help you minimize fraud-related losses and maintain compliance with the Red Flags Rules.