Protecting Automotive Dealers Against Fraud and Identity Theft
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Kudelski Group
/ Key word(s): Miscellaneous
New Real-Time ID Verification Service to Combat Dealership Fraud and Provide Critical Intelligence Before Vehicles are Stolen Criminals are increasingly using fake and stolen identities to take advantage of automotive dealers—driving off with vehicles during test drives or securing financing fraudulently. Identity crime enables them to disappear without a trace, leaving dealers to absorb the financial loss. And the fraud is often only discovered after the fictitious buyer defaults on their loan payments, which can be up to 90 days after purchase. "Identity crime is a growing threat, and staying ahead of criminals is essential for protecting our business," said Dennis Gingrich, Sales & Finance Director at The Niello Company, a 12-rooftop dealership group in the Sacramento area. "RecovR has worked closely with our dealership teams and industry experts to create a solution that directly addresses the need for robust anti-fraud measures in automotive retail. Our goal is straightforward—every vehicle sale should include a thorough identity check, ensuring secure transactions and safeguarding our bottom line." RecovR ID Check meets the urgent need for real-time identity verification during crucial dealership processes such as test drives and vehicle financing, whether conducted in-person or online. This solution integrates seamlessly into existing dealership workflows, providing a powerful tool to reduce fraud and protect valuable dealership assets. Unlike competitive solutions, RecovR ID Check has no special equipment costs or monthly fees. Dealers simply purchase a pre-paid package of ID checks based on their needs. “RecovR ID Check is the latest extension of the successful RecovR product line, which has already revolutionized automotive retail with its lot management and vehicle theft recovery and key tracking solutions,” said Patrick Hauert, SVP of Asset Tracking at Kudelski IoT. “Our mission is to develop technology solutions that resonate with the dynamic needs of today’s market. RecovR ID Check enhances auto dealers’ fraud prevention program with a powerful tool that helps ensure secure, trustworthy transactions and reduces loss.”
About Kudelski IoT
Christopher Schouten Marc Demierre
End of Media Release |
| Language: | English |
| Company: | Kudelski Group |
| route de Genève 22-24 | |
| 1033 Cheseaux-sur-Lausanne | |
| Switzerland | |
| Phone: | +41 21 732 01 01 |
| Fax: | +41 21 732 01 00 |
| E-mail: | info@nagra.com |
| Internet: | https://www.nagra.com |
| ISIN: | CH0012268360 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2073841 |
| End of News | EQS News Service |
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2073841 23.01.2025 CET/CEST
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