1. Identity theft contributes to financial fraud

Identity theft contributes to financial fraud

Auto loans, mortgage loans and credit cards account for the bulk of financial frauds cases from identity theft in the country.

Updated: February 16, 2016 2:54 AM

Auto loans, mortgage loans and credit cards account for the bulk of financial frauds cases from identity theft in the country. A report by Experian shows falsification of address proof is the most popular behaviour seen among fraudsters. Hiding of adverse credit rating is the most common behaviour, especially in auto loan followed by mortgage fraud. In case of mortgage loans, fraudsters also used false emplyment status to avail of the loan.

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